Lebanon’s central bank said on Monday it would open credit lines to import fuel at 3,900 Lebanese pounds to the dollar, a weaker rate than previously offered that effectively raises the costs for ordinary Lebanese amid a crippling economic crisis. Under a subsidy programme, the central bank had been using 1,500 pounds to the dollar, the official rate used for all transactions until the crisis that erupted in late 2019 precipitated a currency collapse. The street rate for the pound is now over 17,000 to the dollar. Lebanon’s caretaker prime minister had on Friday approved a proposal to finance the imports at the new rate amid worsening fuel shortages. Lebanon is in the throes of a deep finan
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