Lebanon must ration subsidies before reserves run out

Author: ReutersID: 1617368402131545200Fri, 2021-04-02 16:13 BEIRUT – Lebanon will run out of money to fund basic imports by the end of May and delays in launching a plan to reduce subsidies are costing $500 million a month, the caretaker finance minister, Ghazi Wazni, said. As Lebanon’s economy crumbles, the central bank has asked the caretaker cabinet to decide how to gradually lift subsidies to ration remaining foreign currency reserves, Wazni told Reuters on Thursday. “The government must speed this up. The cost of wasting time is very high. With every delay, it becomes higher,” he said. Lebanon’s financial meltdown is fueling hunger and unrest in the country’s gravest crisis since it

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Last updated : 02 April 2021 clock 07:01 PM

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