Reuters: Lebanon can only subsidise basic goods for 3 more months

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The central bank informed the government that it would end the subsidies before foreign currency reserves fall below $17.5 billion, a source told Reuters.

by Annahar Staff-Source: Annahar

A file photo of Central Bank governor Riad Salemeh (AP)

BEIRUT: Lebanon’s central bank will only subsidise fuel, wheat and medicine for three more months, an official source told Reuters Thursday, signaling Banque Du Liban’s deteriorating fx position.

The central bank informed the government that it would end the subsidies before foreign currency reserves fall below $17.5 billion, a source told Reuters.

 

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