Amin Salam told CNN’s Becky Anderson that Lebanon is the most vulnerable MENA state.
In Salam’s opinion, the lack of wheat is a big issue. He claimed that Lebanon’s national reserves were exhausted by Beirut’s 2020 explosion. Because we’d been keeping wheat in private silos, this added to Lebanon’s difficulties.
Russia and Ukraine supply 80 percent of the country’s wheat, which is “struggling to find new markets,” according to the official.
The wheat, sunflower oil, and sugar in two months have us worried.
Lebanon has yet to recover from COVID-19 inflation, according to Salam.
Lebanon’s high refugee population per capita contributes to the country’s low purchasing power.
Lebanon is seeking economic assistance from the rest of the world.
With the United States and France, they’re talking about alternative food markets. Hopefully these countries can assist in the supply chain, as Salam had hoped for.
There are a number of projects in the works with the World Bank in the country as well.
His comments were in response to a question about whether the international community still has Lebanon’s back and does not want it to split apart.
In Lebanon, an IMF delegation is discussing a rescue package. The situation is under control at the moment. Once a personnel agreement has been reached, the train can finally begin its journey.
According to Salam, the bank is “not insolvent.”
He went on to say that “our national reserves are in a terrible condition.” However, we are confident that Lebanon would profit from the IMF agreement.