Lebanon minister warns health sector on dollar shortage

Lebanon has been gripped since Oct. 17 by anti-government protests over a variety of issues, including a crumbling economy. (Reuters)
Updated 27 November 2019
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Lebanon minister warns health sector on dollar shortage

  • Dialysis filters, heart valves and respirator supplies have already started to run low

BEIRUT: Lebanon’s health minister on Tuesday urged the central bank to release US dollars over a hard currency shortage limiting medical imports to the protest-hit country.

“The sector is under serious threat,” caretaker minister Jamal Jabak, who is close to Iran-backed movement Hezbollah, told a news conference.

“A hospital without medical supplies cannot operate.”

The Lebanese pound has been pegged to the greenback at about 1,500 for two decades and the currencies are used interchangeably in daily life.

But amid a deepening economic crisis, banks have gradually been reducing access to dollars in recent months, forcing importers to resort to money changers offering a higher exchange rate and sparking price hikes.

On the open market, the dollar has been selling for 2,000 pounds.

Jabak said that the central bank was ready to supply medical equipment importers with only half the dollars they need at the official rate.

He urged the banking institution to provide all necessary dollars at this rate to avoid hospitals raising their prices and patients footing the bill.

“We hope that all those concerned — especially the central bank governor — release these funds,” he said.

“I don’t think the Lebanese people, with everything they are going through, can put up with their medical bills being increased.”

Importers warned on Sunday that the country’s stock would only last weeks, as dialysis filters, heart valves and supplies for respirators had already started to run low.

Lebanon has been gripped since Oct. 17 by unprecedented anti-government protests over a wide variety of issues, including a crumbling economy. 

The government stepped down less than two weeks into the nationwide demonstrations, but a new cabinet has not been formed. Earlier this month, hospitals threatened to close to all but emergency patients for a day if the central bank did not release the key dollars for medical imports. Last month, before the protests, the central bank said it would facilitate access to dollars for importers of petroleum products, wheat and medicine.

A group representing companies in the private sector have called for a general strike on Thursday, Friday and Saturday.


Closing Bell: Saudi main index closes in red at 11,183

Updated 16 February 2026
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Closing Bell: Saudi main index closes in red at 11,183

RIYADH: Saudi Arabia’s Tadawul All Share Index dipped on Monday, losing 44.79 points, or 0.4 percent, to close at 11,183.85.

The total trading turnover of the benchmark index was SR4.05 billion ($1.08 billion), as 69 of the listed stocks advanced, while 191 retreated.

The MSCI Tadawul Index decreased, down 6.63 points or 0.44 percent, to close at 1,504.73.

The Kingdom’s parallel market Nomu lost 328.20 points, or 1.36 percent, to close at 23,764.92. This comes as 22 of the listed stocks advanced, while 49 retreated.

The best-performing stock was Maharah Human Resources Co., with its share price surging by 7.26 percent to SR6.50.

Other top performers included Arabian Cement Co., which saw its share price rise by 6.27 percent to SR22.71, and Saudi Research and Media Group, which saw a 4.3 percent increase to SR104.30.

On the downside, the worst performer of the day was Arabian Internet and Communications Services Co., whose share price fell by 8.01 percent to SR207.80.

Jahez International Co. for Information System Technology and Al-Rajhi Co. for Cooperative Insurance also saw declines, with their shares dropping by 5.61 percent and 4.46 percent to SR12.79 and SR75, respectively.

On the announcement front, Etihad Etisalat Co. announced its financial results for 2025 with a 7.9 percent year-on-year growth in its revenues, to reach SR19.6 billion.

In a Tadawul statement, Mobily said that this growth is attributed to “the expansion of all revenue streams, with a healthy growth in the overall subscriber base.”

Mobily delivered an 11.6 percent increase in net profit, reaching SR3.4 billion in 2025 compared to SR3.1 billion in 2024.

The company’s share price reached SR67.85, marking a 0.37 percent increase on the main market.