Lebanon Appeals for Import Credit as Crisis Sparks Dollar Crunch
- Hariri asks Saudi Arabia, France, U.S. for assistance
- President Aoun discusses economy with Morgan Stanley, others
Lebanon's liquidity shortage could affect food security in the country.
Photographer: Kaveh Kazemi/Getty Images
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Lebanon’s caretaker premier sought credit offers from allies Saudi Arabia, France and the U.S. to cover critical imports as the nation’s economic and political crisis fuels a shortage of dollars.
Saad Hariri, who resigned in late October in the face of mounting nationwide protests against an elite demonstrators accused of mismanagement and corruption, also sent letters to the leaders of Russia, Egypt, Turkey, China and Italy, according to his party’s website. He said Lebanon needed assistance to counter a “liquidity shortage” and ensure food security.