Lebanon's Finance Minister: Country Must Ration Subsidies Before Reserves Run Out
Voice of America
WASHINGTON - Lebanon's caretaker Finance Minister Ghazi Wazni said Friday that the country would run out of money to fund basic imports by the end of May.
Wazni also said that delays in launching a plan to reduce the subsidies paid to hundreds of thousands of poor people were costing the country $500 million a month. "The government must speed this up. The cost of wasting time is very high. With every delay, it becomes higher," Wazni said. Wazni’s announcement came after Lebanon's Parliament on Monday approved a $200 million loan to pay for fuel for the country's electricity company. The move was prompted by a warning from the energy ministry that money had run out for electricity generation beyond the end of the month.This undated handout photo taken by the UN Development Programme and released on May 28, 2024 shows locals digging at the site of a landslide at Mulitaka village in the region of Maip Mulitaka, in Papua New Guinea's Enga Province. This photo released by UNDP Papua New Guinea, shows a landslide in Yambali village, in the Highlands of Papua New Guinea, May 27, 2024. Authorities fear a second landslide and a disease outbreak are looming at the scene of Papua New Guinea's recent mass-casualty disaster.
Ali Larijani, left, and Saeed Jalili, right, are seen in this 2008 photo by Iranian state-approved news site Asr Iran in 2008. (Asr Iran) Iran's interim president Mohammad Mokhber speaks during the opening ceremony of Iran's 12th parliament in Tehran, Iran, May 27, 2024. Majid Asgaripour/WANA (West Asia News Agency) via REUTERS FILE - Presidential candidate Saeed Jalili attends an election debate at a television studio, in Tehran, Iran June 8, 2021. Morteza Fakhri Nezhad/YJC/WANA (West Asia News Agency) via REUTERS FILE - Iranian parliament speaker Ali Larijani attends a news conference at the Iranian embassy in Beirut's southern suburbs, as a picture of late Iran's Quds Force top commander Qassem Soleimani is seen in the background, Lebanon February 17, 2020. FILE - Iranian Minister of Roads and Urban Development Mehrdad Bazrpash and the Russian Ministry of Transport Vitaly Savelyev during a ceremony in Tehran, Iran, May 17, 2023. Iran's Presidency /WANA (West Asia News Agency)/Handout via REUTERS Parviz Fattah, head of Iranian state-owned enterprise Execution of Imam Khomeini's Order (EIKO), is seen in this photo posted on the EIKO website on May 14, 2024. (EIKO)
A TV screen shows a file image of North Korea's rocket launch during a news program at a bus terminal in Seoul, South Korea, May 27, 2024. FILE - Japanese Foreign Minister Yoshimasa Hayashi speaks to reporters in Colombo, July 29, 2023. FILE - A TV screen shows a report of North Korea's spy satellite into orbit with its third launch attempt this year with an image of North Korea's leader Kim Jong Un during a news program at the Seoul Railway Station in Seoul, South Korea, Nov. 22, 2023.
Palestinians gather at the site of an Israeli strike on a camp for internally displaced people in Rafah on May 27, 2024. Fire rages following an Israeli strike on an area designated for displaced Palestinians, amid the ongoing conflict between Israel and Hamas, in Rafah in the southern Gaza Strip, in this still picture taken from a video, May 26, 2024. Palestinians gather at the site of an Israeli strike on a camp for internally displaced people in Rafah on May 27, 2024. A member of the bomb squad of the Israeli police collects debris after a rocket fired by Palestinian militants struck in the Israeli city of Herzliya on May 26, 2024.