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FinancialNews


  • 08-01-20

    Dollar crisis in Lebanon to cause closure of companies

    (MENAFN) According to the National News Agency, on Tuesday, president of the Mount Lebanon Trade Association, Nassib Gemayel, warned that because of the dollar crisis in Lebanon many of more firms are likely to close down in the next weeks.


    As said by Gemayel, "we urge bankers to provide merchants with facilities by reducing banking restrictions and securing the necessary funds for traders to enable them to import products and operate normally again", adding, "Merchants will be out of products soon".


    Banks should also cut interest rates on loans offered to businesses and firms in order to allow businessmen to face challenges, as Gemayel said.


    The shutting of thousands of firms soon will cause dismiss of thousands of employees which will result a social disaster in Lebanon, the trader said.

    MENAFN0801202000450000ID1099522321

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