Yemeni President Abd-Rabbu Mansour Hadi has ceded his powers to the presidential council, which was supported by Saudi Arabia. This removed some of the obstacles to the UN efforts to restart negotiations to end the seven-year war, reports Reuters.
Yemen president cedes his powers to Presidential Council
STEPANAKERT, APRIL 7, ARTSAKHPRESS: Riyadh announced a $3 billion bailout to the Saudi-backed government following President Abd-Rabbu Mansour Hadi's statement. The kingdom also called for talks by the Houthis, who are fighting the Saudi-led coalition.
Saudi Arabia urged the council to begin negotiations with the Houthis under the auspices of the United Nations to reach a final and comprehensive solution.
The new governing council, consisting of a chairman and seven vice-chairs, will be led by Rashad Al-Alimi, who enjoys the backing of Saudi Arabia and has close ties to the major political group, the Islamist Islah party.
Saudi Arabia and coalition partner UAE will each invest $1 billion in Yemen's central bank, with the kingdom providing an additional $1 billion for oil products and development.
