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The head of the Lebanese interim government, Hassan Diab, warns the Banque du Liban of any steps it has taken to lift subsidies, and considers this behavior “unacceptable at the present time.”
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Diab: Lebanon goes through a difficult stage due to political disputes
Lebanese Prime Minister Hassan Diab said Friday that Lebanon is going through a difficult phase due to political disputes.
In his speech, he said that the BDL’s tendency to lift the subsidy is unacceptable at the moment, indicating that any steps by the Banque du Liban to lift the subsidies are the responsibility of the Banque du Liban.
He went on to say: “We say no to the elimination of subsidies for medicines and flour, and I warn that canceling the subsidies will lead to disastrous results,” and emphasized that his government “has not failed in its duty even after his resignation.”
Diab pointed out that, two months after the resignation of the government, what is needed today is the formation of a “capable and functional government”, calling for “the reinvention of life in the French initiative.”
An official source told Reuters that Lebanon has around $ 1.8 billion in foreign exchange reserves that could be available to support imports of staple foods and other imports, but could preserve its survival for another 6 months by canceling subsidies on some products. basic.
Lebanon, which suffers from a heavy debt burden, is facing the most serious economic crisis since the 1975-1990 civil war, which affected the local currency and caused prices to rise. Many Lebanese have fallen into poverty and have become more dependent on subsidized food.
For his part, Central Bank Governor Riad Salameh, who declined to comment for this report, said the subsidy should stop as soon as the mandatory limit on foreign exchange reserves is reached, without indicating a deadline.
French President Emmanuel Macron announced that “the French initiative on Lebanon has not been taken off the table”, and called on Lebanese officials to “seize the opportunity to form a rescue government.”
On August 10, Diab announced the resignation of his government. In a speech to the Lebanese people, he stated that “the disaster that struck the Lebanese (the Beirut port explosion) came about as a result of chronic corruption in the state and administration.”
At that time, he pointed out that “the corruption system is greater than the state and chains it,” noting that “there is a risk that other disasters protect the class that controls the destiny of the country.
On September 26, Lebanese Prime Minister-designate Mustafa Adib apologized for his mission to form a government.
Adeeb apologized to the Lebanese people and stressed that “the initiative of French President Emmanuel Macron must continue because it expresses the sincere intention of France.”
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