A new record collapse for the Lebanese pound

The Lebanese pound recorded a new record collapse yesterday, touching the limits of 40,000 pounds to the dollar, which raised the Lebanese fears of a further deepening of the severe living crisis that continues to exacerbate with the continuous financial and monetary collapse, which has left about 83 percent of residents below the poverty line.

This came as the Association of Banks issued a strongly worded statement against the government’s financial plan, and warned depositors that the government decided to write off their savings, which called for a response from the Deputy Prime Minister, His Excellency Al-Shami, in which he defended the plan, and stressed that “the depositors’ money cannot be touched before the bank owners’ capital is exhausted.” He denied that the plan aims to absolve the state and the Banque du Liban from any responsibility.

Al-Shami attacked the statement of the Association of Banks, saying that it “contradicts the truth, and represents a forward flight in an outrageous attempt that claims to protect depositors.”

Yesterday, Asharq Al-Awsat monitored the transmission of factors of confusion and chaos to the consumption markets, preceded by the recording of new and significant increases in the prices of oil derivatives and household gas, with the potential for more in the coming days.

A preliminary field investigation showed that the majority of supermarket, retail and wholesale owners abandoned the previous precautionary price of the dollar at the level of 35,000 pounds, and replaced it either at a price of approximately 40,000 pounds or by reluctance to offer materials and goods.

On the other hand, the head of the “Free Patriotic Movement”, MP Gebran Bassil, opened a battle to settle scores with his opponents in the “current” whom he holds responsible for the failures in a number of circles, describing them as “traitors”.

Naim Aoun, nephew of President Michel Aoun, responded to Bassil, saying that he is “live in clear political bankruptcy. ?».

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.