Shell launches major cost-cutting drive to prepare for energy transition    Israeli court approves extradition to Australia of sex-crime suspect    Real Madrid's attack scrutinized day after Bale's departure    Egypt's Hurghada airport receives first flight by Swiss Chair Airlines since virus hiatus    Juventus coach Pirlo not out to copy anyone after comfortable opening win    Guardiola says he must prove he deserves Manchester City extension    Sudan to discuss removal from US terrorism list in UAE    Lebanese PM urges efforts to make French initiative succeed    FACTBOX: Key winners of the 2020 Emmy Awards    'Succession,' 'Watchmen,' 'Schitt's Creek' take top Emmys    Egypt's Sisi discusses development projects with ministers    Protesters say localised lockdowns in Madrid discriminate against poor    Virtual Emmy Awards set bar high with live telecast    Nile water levels continue to decline in Sudan after devastating floods: Ministry    Egypt's nominee is out of the race for WTO director-general    Cairo Ring Road to be expanded from 8 lanes to 14: Transport minister    Egypt's NEA announces results of Senate election run-offs    Climate theories on Sudan    Egyptian insurance companies' premiums 9.6% up in five months    Egypt's President Sisi names new head of anti-corruption watchdog    Egypt's c.bank offers 18 bln pounds T-bills on Sunday    EgyptAir offering discounts for some international flights    Egypt records 212 new coronavirus cases, 14 deaths on Saturday    Egypt to require PCR coronavirus tests for airport travelers    Egypt sends 125 tonnes of glass by sea to Beirut    Legend Messi officially wants to leave Barcelona, hands transfer request    Global smartphone sales drop 20% in Q2, yet Apple's iPhone sales steady    Sisi: Egypt keen on establishing development projects with Iraq, Jordan    Egyptian megastar Amr Diab releases new hit music video    Making of Harry Potter will be available for fans at new park in Tokyo    Egypt's Senate elections official results to be announced Wednesday    Netflix Egypt is bringing megastar Amr Diab back with a new original    Egypt reopens Rafah border crossing for first time since April    Egypt's senate elections 2020 trending on social media in few days    African Champions League final will be played on Oct. 16-17, CAF says    No room to delay Egyptian Premier League games – EFA's board member    The Facebook Preacher's Search for Fame, and Egypt's Economy    Egypt calls on UNSC to address oil spill risks off Yemen coast    Egypt economically strong in face of COVID-19, reforms ongoing: International Cooperation Minister    Arafa Holding reports $144,000 COVID-19-related losses in April    Egypt's efforts in Libya to activate free will of Libyan people: Al-Sisi    Hyksos campaigns were internal takeover, not foreign invaders: study    COVID-19 affects Egypt sporting clubs    COVID-19 will soon turn to seasonal like swine flu: Presidential Health Advisor    ‘Egypt's Support' coalition convenes to discuss its Senate election list    Robbery attempt leads to discovery of Ptolemaic monuments in Qena    Flouting international guidance, Ethiopia unilaterally starts filling its Nile dam    Zaha speaks out after online racial abuse    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.





Lebanon's financial capacity 'very limited', economy minister says after blast
Published in Ahram Online on 06 - 08 - 2020

The Lebanese state and central bank have "very limited" financial capacity to confront the impact of the port warehouse explosion that devastated Beirut without foreign aid, its economy minister said on Thursday.
"The capacity of the state is very limited, and so is that of the central bank and the banks. We're not swimming in dollars," Raoul Nehme said in TV comments to Sky News Arabia.
He said many countries were rushing to help and damages were in the billions of dollars.
He said working with the International Monetary Fund was the only way out for Lebanon, which was already wrestling with a dollar crunch and financial meltdown before Tuesday's blast.


Clic here to read the story from its source.