Supporting basic commodities in Lebanon for 3 months only

An official source said on Thursday that the Central Bank of Lebanon will not support fuel, wheat and medicine for more than three more months in light of dwindling foreign currency reserves.

The source told Reuters that the Banque du Liban had informed the government that it would stop subsidies at that time to prevent reserves from falling below $ 17.5 billion.

In July, other sources estimated reserves at about $ 18 billion, before the violent explosion that occurred in the Beirut port this month, which killed 179 people and destroyed large sections of the city.

Source: Reuters