Yemen forms economic task force to follow up int`l financial crisis

SANA'A, Oct. 13 (Saba) - Supreme Economic Council (SEC) formed on Monday an economic task force headed by the Deputy Premier for economic affairs Abdul Karim al-Arhabi to follow up the international financial crisis situation.

The task force will be in charge of following up the related-procedures taken by the
industrial countries and to take the precautionary measures to protect the national
economy.

The ESC's meeting chaired by Premier Ali Mujawar addressed the initial report of the
Central Bank of Yemen (CBY) on consequences of the international financial crisis on
the financial situation in the country.

The report highlighted the CBY and commercial banks' reserves deposited in foreign
banks, making clear that those banks are insured and supported directly by their
governments. Those banks will not be affected by the international crisis, according
to the report.