Saudi Arabia to grant Yemen $1.2 billion in economic aid

SANAA, Yemen (AP) — Saudi Arabia said it would grant $1.2 billion of financial aid to Yemen’s internationally recognized government in a bid to buoy the country’s struggling economy. Riyadh said in a statement the cash injection is part of Saudi Arabia’s ongoing efforts to help stabilize Yemini food prices, bolster its exchange rate and support salary payments. Yemen’s civil war, now entering its ninth year, has ravaged the country’s economy. Yemen’s government confirmed the aid package in a corresponding statement. The offering is the latest in a series of aid packages Riyadh has granted its Yemeni allies.