Lebanon’s economic meltdown worsens as central bank pulls fuel subsidies

Lebanon’s economic meltdown worsens as central bank pulls fuel subsidies

BEIRUT: Lebanon’s economic meltdown worsened on Monday as protesters blocked roads in Beirut and Tripoli over power cuts and the Banque du Liban’s decision to permanently remove fuel subsidies. The demonstrations coincided with the Lebanese caretaker government’s renewed call for international efforts to help with the Syrian refugee crisis in the country. In Qasqas and on Corniche Al-Mazraa, in Beirut, crowds used waste bins to block streets in response to the latest cost-of-living blow. One protester said: “We can no longer bear this situation. We are dying. There is no electricity, no water, no medicine, and death awaits us near hospital doors because we do not have the means to pay for their services.” A lack of vital medicines for cancer patients in Lebanon has recently hit the headlines amid a growing crisis in the country’s healthcare sector. Meanwhile, George Brax, a member of the Syndicate of Gas Station Owners, said: “The central bank completely lifted fuel subsidies on Monday. The gasoline that will be sold at stations is now devoid of any subsidy and will be sold according to the dollar exchange rate on the black market.” The gas gallon (20-liter) increased by 20,000 Lebanese pounds ($13.18) with the