Yemen president says won't extend presidential term
Source: BI-ME with Reuters , Author: Posted by BI-ME staff
Posted: Wed February 2, 2011 1:21 pm

YEMEN. Yemeni President Ali Abdullah Saleh, a key US ally against al Qaeda, said on Wednesday he will not seek to extend his presidency in a move that would end his three-decade rule when his current term expires in 2013.

Eyeing protests that brought down Tunisia's leader and threaten to topple Egypt's president, Saleh also vowed not to pass on the reins of government to his son, but asked the opposition to hold down on protests.

"I present these concessions in the interests of the country. The interests of the country come before our personal interests," Saleh told his parliament, Shoura Council and members of the military.

"No extension, no inheritance, no resetting the clock," he said, making reference to ruling party proposals to institute term limits that had been seen as allowing him to run again.

His remarks came a day before a planned large rally, dubbed a "Day of Rage," organized by the opposition that was seen as a barometer of the size and strength of the Yemeni people's will to follow Egypt and Tunisia in demanding a change of government.

"I call on the opposition to freeze all planned protests, rallies and sit-ins," Saleh said.

Yemen, already teetering on the brink of becoming a failed state, is trying to fight a resurgent al Qaeda arm, cement peace with Shi'ite rebels in the north and quell separatism in the south, all in the face of crushing poverty that has left a third of Yemenis suffering from chronic hunger.

Saleh had already offered some smaller concessions on presidential term limits and pledged to raise salaries of civil servants and military personnel by around US$47 a month, no small move in a country where about 40 percent of the population lives on less than US$2 a day.

Yemen's current rules would require Saleh to step down as president when his term ends in 2013. But some members of his ruling party riled the opposition late last year by floating a proposal to lift that limit.

Yemen's opposition tried to rally against the idea in December, but failed to bring large numbers to the street. Last week, however, the Yemeni opposition succeeded in bringing around 16,000 people to the streets to demand a change in government. Some called for Saleh to leave.

 

MIDDLE EAST BUSINESS COMMENT & ANALYSIS

date:Posted: October 31, 2014
INTERNATIONAL. If Russia's "pivot to Asia" results in Moscow and Beijing trading oil between them in a currency other than the dollar, that will represent a major change in how the global economy operates and a marked loss of power for the U.S. and its allies."
date:Posted: October 30, 2014
UAE. GCC corporate earnings strength intact; Regional bonds unaffected by global shocks; Central Banks support financial markets.
date:Posted: October 29, 2014
UAE. Total wealth in the GCC stood at US$ 1.7 tillion in 2014, up 4.75% from 2013; Total wealth in Saudi Arabia and UAE grew by 5%; Global household wealth up 8.3% to US$263 trillion, driven by the US and Europe, according to Credit Suisse Research Institute.
INTERNATIONAL. If Russia's "pivot to Asia" results in Moscow and Beijing trading oil between them in a currency other than the dollar, that will represent a major change in how the global economy operates and a marked loss of power for the U.S. and its allies."
dhgate