Lebanon health crisis looms with drug stocks under threat

Lebanon health crisis looms with drug stocks under threat

Sat, 2020-12-05 21:48

BEIRUT: The World Bank has rejected an appeal by Lebanon to subsidize medicines in the crisis-hit country despite warnings that vital drug stocks are running low.

Head of the Lebanese Parliamentary Health Committee, Assem Araji, held talks with World Bank representatives via video conference on Friday in a bid to win additional financial support to ensure medical supplies in Lebanon remain stable.

However, the World Bank made clear that "no assistance will be provided to Lebanon without immediate government reforms,“ Araji said.

The pivotal meeting follows a warning by Lebanon's central bank that with reserves running low, it will be unable to subsidize essential goods, such as medicines, flour and fuel, beyond early 2021.

Concerns are mounting among Lebanese that the cost of drugs will soar amid a sharp devaluation in the local currency.

Health officials say a shortage in medicines has been worsened by panic buying and hoarding prompted by the central bank warning.

Araji said that the removal of subsidies on medicine will leave health institutions at risk of collapse.

"We will be facing a great disaster if the subsidy on essential medicines is removed. Our situation is very sad, and we are heading toward a major crisis,“ he said.

The World Bank's hard-line