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16 Aug 2016

Exclusive: Civil war costs Yemen $14 billion in damage and economic losses – report

Author: admintech | Filed under: World

An armed boy walks as he attends a gathering held by tribesmen loyal to the Houthi movement in SanaaBy Yara Bayoumy WASHINGTON (Reuters) – The cost from damage to infrastructure and economic losses in Yemen's civil war is more than $14 billion so far, according to a confidential report seen by Reuters that highlights the effort needed to rebuild the country, where more than half the population is suffering from malnutrition. "The conflict has so far resulted in damage costs (still partial and incomplete) of almost $7 billion and economic losses (in nominal terms) of over $7.3 billion in relation to production and service delivery," said the May 6 joint report by the World Bank, United Nations, Islamic Development Bank and European Union. The internationally recognized Yemeni government of President Abd Rabbu Mansour Hadi is battling the Iran-allied Houthis in a bitter civil conflict, and is also facing the al Qaeda in the Arabian Peninsula militant group.

Source: http://news.yahoo.com/exclusive-civil-war-costs-yemen-14-billion-damage-204626301–business.html