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  • 15-08-21

    Lebanon’s central bank halts fuel subsidies that drained country’s foreign reserves

    (MENAFN)Lebanon’s central bank governor warned that the country’s foreign reserves have stood at a “red line”.

    During an interview with Free Lebanon Radio, Riad Salameh stated that "Everyone was aware of the decision to lift fuel subsidies, starting from the government to the parliament and up to the presidency.”

    The central bank postponed fuel subsidies that have weak the country’s foreign reserves.

    Caretaker Prime Minister Hassan Diab declined the bank’s decision, stating that it was “against the law and does not take into account the reality of the deep living and social crisis."

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