Lebanese parliament speaker calls for a session to discuss fuel shortages

The governor of the Banque du Liban had asked the government for a law to allow him to dip into the mandatory reserve to provide financing for fuel imports.

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On Friday, Lebanon’s parliament speaker, Nabih Berri, requested an open session to deliberate on a suitable action to face the country’s incapacitating fuel shortage, as defined by President Michel Aoun.

The Lebanese central bank head had asked the government the previous week to pass a law allowing him to dip into the binding reserve to provide financing for fuel imports.

Lebanon is in the woes of huge fuel insufficiencies amidst the worsening economic crisis in the country. Long lines outside gas stations have flashed brawls, traffic jams, accidents on nearby roads and even gunfights.

On Saturday, the Lebanese army seized fuel from gas stations to curb hoarding amid crippling shortages. Hospitals, bakeries, and many businesses have been scaling back operations or shutting down as fuel runs dry.

Furthermore, the Lebanese central bank announced that it had ceased to provide fuel subsidies. The decision was met with harsh criticism by government officials.

Days later, the governor of Lebanon’s central bank indicated that nobody is governing the country, striking back after government criticism of his decision to cease fuel subsidies.

The central bank governor had previously announced that Lebanon’s foreign reserves had reached a ‘red line’.

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