Gas stations strike again as BDL fails to secure dollars

Last week, Lebanon’s central bank issued guarantees to secure U.S. dollars for local banks at the fixed official rate that would cover imports of fuel, wheat and medicine.
by Annahar Staff

11 October 2019 | 15:21

Source: by Annahar

  • by Annahar Staff
  • Source: Annahar
  • Last update: 11 October 2019 | 15:21

This photo shows cars waiting in line at a local gas station. (Annahar Photo)

BEIRUT: A number of gas stations across Lebanon have closed shop, prompting citizens to scramble to fill up their vehicles.

Fadi Abou Chakra, a member of the Syndicate of Gas Station Owners, said this was due to the failure to implement the recent Central Bank circular to secure the requisite dollar liquidity.

Last week, Lebanon’s central bank issued guarantees to secure U.S. dollars for local banks at the fixed official rate that would cover imports of fuel, wheat and medicine, a move aimed at easing the demand for dollars amid a worsening economic crisis.

Meanwhile, the head of the Syndicate Sami Brax called for a meeting later today to discuss the latest developments.


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