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The Bank of Lebanon has indicated to provide from today, the lines of credit in foreign currency necessary for the purchase of fuel at the rate of 3,900 LL / USD in accordance with the decisions taken by the Lebanese authorities.
The only condition, according to the press release, is that the commercial banks must pay 100% of these credit lines in Lebanese pound, which should make it possible to reduce the money supply somewhat.
This measure should however induce an increase in the price of fuels which could thus go from 43,000 LL per 20 liters to more than 69,000 LL per 20 liters and thus aggravate the inflation which affects the population.
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