Rai Urges World Leaders to Help Lebanon 'Before It’s Too Late'

Arab World

May 31st, 5:55am

Beirut - Asharq Al-Awsat

Lebanon, which is in political paralysis, deeply indebted and struggling to raise funds from potential donor states and institutions, has said money for subsidies will run out in May [File: Mohamed Azakir/Reuters]

Maronite Patriarch Bechara Al-Rai called Sunday on world leaders to help Lebanon “before it’s too late.” The Patriarch warned during his Sunday mass ceremony that the time has come to rationalize subsidy without touching mandatory reserves of the Central Bank, explaining that warehouses are full of food and medicine while the Lebanese people are paying the price. He said part of this crisis was caused by “greed and monopoly,” calling on security and judicial agencies to raid the warehouses in which medicines are stored. “You should stop the monopoly and close the smuggling routes,” he stressed. Rai affirmed that "Lebanon will emerge from the rubble and return to being an independent, sovereign, free and neutral state." The Patriarch also saluted the groups that stood against the injustice of the de facto situation and the quota system, because the ruling authority, which was unable to secure the most basic necessities of life, declared its failure on its own. "We understand the decision of friendly countries not to provide support without forming a salvation government," he added. He further renewed the call for an "international conference under the auspices of the United Nations to solve Lebanon's problems and move towards neutrality." Last week, Lebanon’s central bank said it can no longer sustain the system for importing subsidized medical goods without using its mandatory reserves. It therefore asked the relevant authorities to find a solution to the problem. Lebanon has been subsidizing fuel, wheat, medicine and other basic goods since last year. But the country’s hard currency reserves have dropped alarmingly from over $30bn before the financial crisis hit in late 2019 to just over $15m in March.

from Asharq AL-awsat https://english.aawsat.com/home/article/3001031/rai-urges-world-leaders-help-lebanon-it%E2%80%99s-too-late