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Lebanon's Central Bank says its intervention contained inflation at 84%

By Reuters Staff
2 Min Read
FILE PHOTO: A view shows the Central Bank building, in Beirut, Lebanon November 12, 2020. REUTERS/Mohamed Azakir/File Photo
BEIRUT (Reuters) -Lebanon’s Central Bank called on the country’s caretaker government on Wednesday to urgently adopt a plan to limit spending on subsidies to protect remaining foreign currency reserves.
The bank said it had been forced to sell dollars in recent months to prevent inflation, which has already reached 84%, from spiralling as high as 275%, and the remaining reserves needed to be protected.
The comments echoed warnings from caretaker Finance Minister Ghazi Wazni, who said two weeks ago that Lebanon would run out of money to fund basic imports by the end of May and delays in reducing subsidies were costing $500 million a month. ....

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'They are us': B.C. health officials and advocates reflect on fifth anniversary of overdose emergency

Since then-provincial health officer Dr. Perry Kendall declared an emergency over the overdose crisis five years ago, he says more than 7,000 people have died ‘unnecessary’ deaths ....

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As NATO meets, Ukraine says Russia could store nuclear weapons in Crimea

Ukraine's defence minister accused Russia on Wednesday of preparing to potentially store nuclear weapons in Crimea and warned that Moscow could attack Ukraine to ensure water supplies for the annexed peninsula. ....

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Lebanon's Central Bank calls for swift action to curb subsidies

Lebanon's Central Bank called on the country's caretaker government on Wednesday to urgently adopt a plan to limit spending on subsidies to protect remaining foreign currency reserves. ....

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NATO, U.S. demand Russia end Ukraine build-up, West examines options

Slideshow ( 5 images )
BRUSSELS (Reuters) - U.S. Secretary of State Antony Blinken offered the United States full support to Ukraine in its conflict with Russia on Tuesday as NATO called on Moscow to halt a large troop build-up on Ukraine’s borders.
Blinken, returning to Brussels just weeks after his maiden trip to Europe as U.S. President Joe Biden’s top diplomat, told reporters that “the U.S. stands firmly behind the sovereignty and the territorial integrity of Ukraine”. He said he would discuss Kyiv’s ambitions to one day join NATO.
Blinken met with Ukrainian Foreign Minister Dmytro Kuleba in an intensification of diplomacy after the Group of Seven foreign ministers condemned the increase in Russian troop numbers, which the West says has gone unexplained. ....

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