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World Business Report: First broadcast 11/08/2021 14:32 GMT : Lebanese energy crisis intensifies

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Millions stolen - then returned - in cryptocurrency heist

First broadcast 11/08/2021 14:32 GMT 

First broadcast 11/08/2021 14:32 GMT : Lebanese energy crisis intensifies

Lebanese energy crisis intensifies

BBC World Service - World Business Report, Lebanese energy crisis intensifies

Lebanon's central bank will end fuel subsidies amid a spiralling financial crisis

Lebanon's central bank said it would offer credit lines for fuel imports based on the market price for the Lebanese pound from Thursday, effectively ending a
fuel subsidy that has drained its reserves since the country descended into financial crisis. The BBC's Mohamed El Aassar explains what this means for Lebanese citizens. Also in the programme, Brookings economist Nicol Turner Lee takes a close look at President Biden's infrastructure bill, and whether it will help alleviate the country's widening digital divide. We'll also hear how markets are reacting to the bill, along with record-high inflation in the US, with Susan Schmidt of Aviva Investors in Chicago. And we discuss energy inequality with Jeremiah Thoronka in Sierra Leone. As a teenager, he developed a method of using kinetic energy to bring electricity to remote areas.

(Image: Lebanese citizens wait in long queues to fill their gas cylinders and vehicles at gas station in Beirut, Lebanon. Image credit: Getty Images)

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First broadcast 11/08/2021 14:32 GMT : Lebanese energy crisis intensifies

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