Lebanon Minister Warns Health Sector At Threat Over Dollar Shortage
Jamal Jabak urges central bank to release US dollars over a hard currency shortage limiting medical imports to the protest-hit country

Lebanon's health minister Tuesday has urged the central bank to release US dollars over a hard currency shortage.
Lebanon's health minister Tuesday urged the central bank to release US dollars over a hard currency shortage limiting medical imports to the protest-hit country.
"The sector is under serious threat," caretaker minister Jamal Jabak, who is close to the powerful Iran-backed movement Hezbollah, told a news conference.
"A hospital without medical supplies cannot operate."
The Lebanese pound has been pegged to the greenback at around 1,500 for two decades and the currencies are used interchangeably in daily life.
But amid a deepening economic crisis, banks have gradually been reducing access to dollars in recent months, forcing importers to resort to money changers offering a higher exchange rate and sparking price hikes.
On the open market, the dollar has been selling for 2,000 pounds.
Jabak said the central bank was ready to supply medical equipment importers with only half the dollars they need at the official rate.
He urged the banking institution to provide all necessary dollars at this rate avoid hospitals raising their prices and patients footing the bill.
"We hope all those concerned -- especially the central bank governor -- release these funds," he said.
"I don't think the Lebanese people, with everything they are going through, can put up with their medical bills being increased."
Importers warned on Sunday that the country's stock would only last weeks, as dialysis filters, heart valves and supplies for respirators had already started to run low.
Lebanon has been gripped since October 17 by unprecedented anti-government protests over a wide variety of issues, including a crumbling economy.
The government stepped down less than two weeks into the nationwide demonstrations, but a new cabinet has not been formed.
Earlier this month, hospitals threatened to close to all but emergency patients for a day if the central bank did not release the key dollars for medical imports.
Last month, before the protests, the central bank said it would facilitate access to dollars for importers of petroleum products, wheat and medicine.
A group representing companies in the private sector have called for a general strike on Thursday, Friday and Saturday.
For all the latest health tips & news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.UAEs Maseera Acquires Egyptian Fintech ADVA
The move marks a critical milestone in Maseera’s regional expansion strategy Read more
Oman Mandates IBAN For Domestic Transfers From July 2025
The move follows the Oman Central Bank's implementation of the IBAN system for international transfers from March 31, 2... Read more
Egypt And Jordan Thank The European Parliament For New Financial Aid
The European Union members recently approved loans worth $4.4 billion in three instalments to Egypt and $555 million to... Read more
Standard Chartereds SC Ventures To Replicate Asia, Africa SME Model In GCC
SC Ventures to bring its successful SME building strategy in India, South East Asia and Africa to GCC, and plans to rol... Read more
UAE Central Bank Revokes Licence Of Dynamics Insurance Brokers For Regulatory Breaches
Dynamics Insurance Brokers "failed to comply with the licensing terms and requirements issued by the Central Bank and w... Read more
Eid Al Fitr Holidays In The GCC; Dubais 100 Most Influential People; UAE Petrol Prices To Change; Royal Baby Announced – 10 Things You Missed This Week
Eid holidays, the Dubai 100, UAE petrol prices, Royal Baby named, Palm Jebel Ali investments and more top news stories ... Read more