The governor of the Lebanese central bank Riad Salameh informed the country’s Higher Defense Council that the bank is no longer able to subsidize fuel purchases and cannot open lines of credit for fuel imports – al-Jadeed TV reported on Wednesday citing a source familiar with the matter.
Following the meeting, Energy Minister Raymond Ghajar stated that if the fuel subsidy stops, prices will be unpegged and linked to the exchange rate of the US dollar on the parallel market.
The announcement arrives amid Lebanon’s severe economic crisis that among other issues resulted in nationwide fuel shortages and prolonged power cuts. Private power generation that supported the country for many years has become too expensive amid rising prices.
The climate in Tunisia will experience a period of stability, with a gradual increase in…
Security units under the Counter-Narcotics Sub-Directorate of the El Gorjeni Judicial Police Department successfully arrested…
An informed source confirmed to the press that the investigating judge of the judicial counterterrorism…
Six people have died after a helicopter crashed into the Hudson River on Thursday, CBS…
The International Court of Justice (ICJ) in The Hague started its first hearings on Thursday…
The president of the Tunisian Farmers' Union (Synagri), Dhaoui Midani, stated in an interview with…
This website uses cookies.