On 30 March, Yemen’s Houthi-led de facto government in Sana’a minted a new100-riyal coin. The unprecedented move came under the pretext of finding a solution to the growing problem of damaged banknotes. Yemeni analysts, however, saw it as yet another step the Iran-backed militia group has taken in an alternative, independent economy it has created, which further threatens ‘peace and stability’ in the war-torn nation. In response to what itdescribed as a “grave escalation,” the Internationally Recognised Government (IRG) in Aden warned citizens not to use the “counterfeit” currency, and in Apri…