SAWT BEIRUT INTERNATIONAL

| 19 June 2021, Saturday | النسخة العربية

Finance Ministry signs fuel oil credit

Caretaker Finance Minister Ghazi Wazni signed and approved a line of credit to be allocated for EDL to cover the cost of a fuel oil shipment, a statement from the ministry read.

The statement further added that Wazni had signed all requested credits and that none is left pending.

Lebanon is struggling with economic and financial crises amplified by an ever-declining local currency value and the COVID-19 pandemic.

Some subsidized basic commodities like weat and fuel are at risk of facing a price hike after talks among political factions of possibly lifting the governmental support.

Most foreign imports are halted or in survival mode due to the lack of the greenback in the market and to the informal capital control imposed by banks, who have already suspended their line of credit for the traders.