| 20 April 2024, Saturday |

Mills closed and loaf crisis on the horizon

The Governor of Banque du Liban, Riad Salameh, announced that the Central Council had agreed to extend the effects of Basic Circular No. 161 until the end of March 2022, subject to renewal.
The governor also stressed that dealing in US dollar banknotes, in exchange for lira banknotes, continues with banks without a specific ceiling, and at the exchange rate platform.

Several mills stopped production today, and closed their doors, due to the delay of the Banque du Liban in opening credits for the purchase of wheat, which led to a severe shortage of flour for the manufacture of bread, while those concerned confirmed that we are on the verge of a loaf crisis if officials do not rectify the matter quickly.
To shed light on this issue, we were joined by the head of the Mill Owners Association, Ahmed Hoteit.