Lebanon: Fuel price skyrockets 66% after subsidy cut
24 August 2021 |
8:21 am
The move has heaped more misery on consumers, amid a deep economic crisis that has seen the Lebanese pound lose 90% of its value.
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With prices soaring in crisis-hit Lebanon, many women can no longer afford sanitary pads. Packs of sanitary towels now cost between 13,000 and 35,000 Lebanese pounds -- between $8.60 and $23 at the official exchange rate -- up from just 3,000 pounds ($2) before the economic crisis. With more than half the population living in poverty, tens of thousands of women are now on a desperate hunt for affordable alternatives. Some women are making their own, using baby nappies or even rags.
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Pharmacies in Lebanon have gone on an indefinite strike. Drug importers have warned they are running out of hundreds of drugs, as the country's central bank has failed to pay overseas suppliers millions of dollars in dues. This, coupled with fuel shortages and power cuts which can last up to 22 hours a day, has resulted in the situation in Lebanon going from bad to worse. Haddak Men B3id is an organisation on the ground that aims to end food insecurity. We talk to its co-founder Gaelle Matar in Beirut.
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The Lebanese currency has lost up to 90% of its value, and prices are soaring. Most Lebanese are fighting a daily battle for survival and only a few profit from the skyrocketing exchange rates for the US dollar.
24 Aug 2021
The move has heaped more misery on consumers, amid a deep economic crisis that has seen the Lebanese pound lose 90% of its value.
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A new Syrian-Jordanian deal on energy for Lebanon is being seen by some as another step towards the international rehabilitation of the brutal Assad regime.
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