Developments related to the financial and economic file indicate an acceleration of the course of the collapse at all levels, from the lira to vital services to the economic reality, while the dollar price fluctuates according to the rhythm of the black market movement and illegal speculation, which reached its climax a few days ago, after a period of relative stability. Several questions are asked about the reasons for the black market’s evasion, the backgrounds of speculators’ activity and illegal applications after the parliamentary elections, and their reflection on the extent of the collapse in all sectors.
The head of the Businessmen Gathering and the economic expert, Dr. Fouad Zamakhel, reveals that the stability that prevailed in the pre-parliamentary elections stage was political stability and not monetary or economic stability, and as a result of a political agreement to pass the parliamentary elections, explaining that after turning the page on parliamentary elections and the occurrence of a coup in some measures and strategies And the priorities, unfortunately, returned to the black market for mysterious and suspicious reasons, most notably the loss of security stability in the country, and not only the exchange rate, as the rise of the dollar by about ten thousand pounds within ten days, is an economic and social crime and it is not possible for any people to bear it In the world.
In his explanation of what happened with the rapid rise and then the decline of the dollar, Dr. Zamkahel told “Lebanon Debate” that several financial and monetary reasons, most notably the low confidence in the national currency for several months and years, in addition to the pressure caused by the imbalance between supply and demand, constitute a realistic matter for the price hike. However, the very rapid change in the price of the dollar, during the night hours, in addition to placing the Lebanese at the mercy of platforms and applications on cell phones, is the result of suspicious manipulation carried out by black hands from inside and outside Lebanon, and this is an insult to the intelligence of the Lebanese, because the platforms determine the price in a fictitious manner. Therefore, it is not possible to build the economy or restore confidence while there is no official exchange rate, but only platforms inside and outside Lebanon. We do not know who is manipulating them in a fictitious way, not monetary or economic.
In the opinion of Dr. Zamkahel, it is clear that after the expiration of the political agreement to stabilize the exchange rate, which was close to 23 thousand, the papers were flipped and the slips occurred in the black market to become at the mercy of the beneficiaries of this decision to enter again into monetary and financial chaos and even in the street because it is difficult for any party face it.
As for the recent intervention of the Banque du Liban, Zamkahel indicates that it was present after the decision to extend the work of the “exchange” platform until next July, but despite that, the large differences between the black market price and “exchange” returned.
In response to a question about the decrease in the price by 7 thousand pounds, in a magical way, Dr. Zamkahel answers, that what is working to raise or reduce the price are the electronic platforms, refusing to make accusations to any party of being behind them due to the absence of clear data, but confirms and “by a thousand percent, It does not affect the market or the movement of supply and demand or any financial, monetary and economic rules, because change cannot happen so quickly and at night, even in the international stock exchange, and of course it will not be in the Lebanon Stock Exchange that is held by black hands and for suspicious reasons.