Central Bank Gov. Riad Salameh on Wednesday reminded the caretaker finance minister that BDL cannot continue to subsidize products in the same manner, urging the government to come up with a new plan to ration subsidies and end waste.
Salameh asked Ghazi Wazni in a letter to adopt a new policy to cut waste, warning that BDL can no longer afford to use its remaining dwindling foreign currency reserves for the subsidy program.
He added that the lawyers syndicate has threatened to take BDL to court in case the remaining foreign currency reserves, which belong to commercial banks, where used to finance the bankrupt state.
Wazni was urged by Salameh to give clear and frank answers as soon as possible.
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Source: The Daily Star