BEIRUT (Reuters) – Lebanon’s Central Bank said on Wednesday that its interventions had contained inflation at 84% in recent months, adding that inflation could have risen to as high as 275% if it had not acted.
The bank also said the government must quickly come up with a plan for subsidies to prevent wasting the country’s reserves. It said Lebanon faced a dangerous situation and warned of “social and economic” consequences of any delay in acting.
(Reporting by Maha El Dahan and Ellen Francis; Editing by Hugh Lawson)
