Aden (south24)

The price of the US "dollar" fell sharply against the Yemeni riyal, in Aden, South Yemen, hours after the announcement of the new parity government between the north and the south.

Local media said that the price of the dollar fell today, Saturday, to 760 riyals against the Yemeni riyal, after it had reached more than 900.

On Friday evening, the Yemeni President announced the formation of a new government of 25 members headed by Dr. Moeen Abdul Malik, which emerged from the Riyadh Agreement, signed between the Southern Transitional Council (STC) and the Yemeni government, in Riyadh last year.

The new government included five STC ministers from among the 13 southern ministers, for the first time since the war against South Yemen in 94.

The Southern Transitional Council demands the restoration of the southern state that existed until 1990.

Economists had warned of the consequences of the delay in forming the new government on the collapsing Yemeni economy.

International and local organizations warned of the threat of famine threatening the population in South Yemen, coinciding with the absence of the government's role, lack of funding, and the spread of covid19 epidemic.

The government's announcement came after seven months of fighting between southern forces loyal to STC and the forces loyal to the Yemeni government, which it controls, the Muslim Brotherhood.

The United Nations,USA, Britain, China, Saudi Arabia, the United Arab Emirates, Bahrain, Kuwait and Jordan welcomed the announcement of the new government and the implementation of the Riyadh Agreement.

The Arab Parliament, the Gulf Cooperation Council, and the Organization of Islamic Cooperation also welcomed the move.

Countries described the step as "important" to achieve peace in southern Yemen, move towards resolving the Yemeni crisis and end the comprehensive conflict.