Monday, November 29, 2021

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Central Bank’s decision worsened Lebanon crisis

Central Bank’s decision worsened Lebanon crisis

Beirut, Aug 22 (Prensa Latina) Lebanon's President, Michel Aoun, reiterated that a decision taken by the governor of the Central Bank (Banque du Liban), Riad Salameh, has worsened the country's crisis, several local media reported on Sunday.
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By announcing the elimination of fuel subsidies, Salameh caused panic among citizens who occupied gas stations to refuel and created endless traffic jams, Al Mayadeen reported.

That decision, he added, also delayed the formation of the government, despite of which a nomination is underway in cooperation with appointed Prime Minister Najib Miqati. The future administrative team will be able to implement reforms and win the Parliament’s confidence, the Presidente hopes.

To alleviate the situation created by Salameh’s measure, he further said, the Treasury will cover part of the fuel subsidies until the end of next September.

In the meantime, the authorities will issue a rationing card for about 750,000 families to face an announced increase in the prices of basic goods.

Aoun used all his constitutional powers to solve the crisis, but neither the interim government nor the Parliament responded, remarked the digital site Naharnet.

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