Lebanon: queues for bread. Here is another country that is preparing to fail
The situation is starting to get dramatic in Lebanon for a primary good like bread. Some bakeries had already closed their doors while others threatened to close, as bakeries complain that they do not have enough flour to meet the demand for food from the population.
Head of the General Confederation of Lebanese Workers Bechara al-Asmar warned on Tuesday that there is a scarce amount of flour in bakeries that, at most, can barely last 10 days, and urged officials to act quickly and not revoke the grain subsidies.
Violence is around the corner: one person was wounded in a shooting in front of a bakery in the southern suburbs of Beirut last Monday, while a long queue had formed in front of the store.
Economy Minister Amin Salam had promised that a solution will be reached by yesterday, but the Central Bank does not have the necessary funds to be able to pay for wheat at subsidized prices. So the solution is by no means simple. The government has secured an additional $ 15 million in emergency for urgent grain purchases, but it is a hot panic. What will the government do when this money is exhausted?
In the meantime, wheat prices remain at very high prices on the American market, at over 50% of the price that was paid even just a few months ago.
About ten days ago we talked about the bread and fuel riots in Sri Lanka . Situations are also extremely tense in Iraq and Pakistan. We just have to see what the next country will be, probably one of the poorest areas of the Middle East, which will see queues and riots for bread. With these prices, the future seems to be just that.
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The article Lebanon: queues for bread. Here is another country that is about to fail comes from ScenariEconomici.it .
This is a machine translation of a post published on Scenari Economici at the URL https://scenarieconomici.it/libano-code-per-il-pane-ecco-un-altro-paese-che-si-appresta-a-fallire/ on Wed, 13 Apr 2022 09:00:52 +0000.