Salameh Says Can No Longer Subsidize Fuel: TV Report

  • Economics
Salameh Says Can No Longer Subsidize Fuel: TV Report

Central Bank Governor Riad Salameh said Wednesday he could no longer open lines of credit for fuel imports or subsidize its purchase, Al-Jadeed TV quoted him as saying in a meeting of the Higher Defense Council.

The Council held a previously unannounced meeting headed by President Michel Aoun and attended by the country's top financial and security officials. A spokesman said the meeting discussed the living conditions and security situation in the country.

He gave no further details.

Lebanon is under a severe fuel crisis, with long lines of cars queuing at gas stations and diesel for power generators in short supply, plunging all areas into blackouts.

Source: The Daily Star