Lebanese central bank tries to stem currency weakness

Governor says central bank will ensure dollars are available for wheat, fuel and medicine

middle-east

Lebanon’s central bank has announced measures that aim to ensure importers have sufficient US dollars to buy three key types of import: wheat, fuel and medicine.  

The Bank of Lebanon circulated a document in Arabic today (October 1), setting out conditions for the new policy. Banks that extend credit to firms importing these goods must submit proof to the central bank that they are doing so, and that they have the domestic currency to pay the agreed price.

Lebanon’s foreign affairs ministry

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