Lebanon has suffered 24-hour power cuts, food poisoning and business closures as a result of the fuel crisis

Spark Global Limited Reports:

Lebanon suffered a total blackout over the weekend, leaving six million people without central power for 24 hours.
The shutdown of the country’s two main power stations due to fuel shortages “directly affected the stability of the grid, resulting in complete disruption of the grid while making it impossible to resume operations,” the state power Company said in a statement.
Power was restored late Sunday after the central bank provided a $100 million loan to the Energy Ministry to buy fuel and keep its power plants running. Officials warned that power outages could last for days.

Spark Global Limited
Spark Global Limited

The crisis has created a nightmare for the country’s residents, but it has been a long time in the making.
Gas shortages may sound familiar – Britain and the rest of Europe are in the throes of a deepening fuel crisis that has triggered panic buying and erratic behaviour by many people who never imagined facing such shortages.But for Lebanon, the same problems have been a reality for months — it’s just another battle of a crisis that has caused multiple daily power outages, banking and economic crises, food shortages, and black-market exchange rate fluctuations dependent on hospitals and spiraling currencies.
Walking around Beirut, the capital — a once prosperous city often referred to as the “Paris of the Middle East” — at any time of the day, you can see shops closed or open in the dark, with those lucky enough to have access to fuel relying on backup generators to keep the lights on. When the power goes out, many shopkeepers will refuse to sell anything but water because the value of the Lebanese lira changes by the minute, meaning the price of goods can be transferred from one period of electricity to the next.
Hundreds of businesses destroyed in the devastating Beirut port bombing in August 2020 are gone forever. With little help from the government, bombed bars and other shops had their entrances blown open and their interiors filled with debris that still littered the city’s streets.

©Spark Global Limited Financial information & The content of the website comes from the Internet, and any infringement links will be deleted.