March 13, 2020 / 11:03 AM / 15 days ago

Lebanese central bank asks banks to prioritise FX transfers for coronavirus supplies

BEIRUT, March 13 (Reuters) - Lebanon’s central bank governor has asked commercial banks to prioritise foreign currency transfers for the purchase of medical supplies needed to combat coronavirus, a central bank statement on Friday said.

Lebanon is grappling with an acute hard currency shortage that has led commercial banks to impose strict controls on the transfer of dollars abroad, restrictions that have slowed imports and left hospitals exposed to growing shortages. (Reporting by Eric Knecht and Tom Arnold; Editing by Kevin Liffey)

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