SAWT BEIRUT INTERNATIONAL

| 3 March 2024, Sunday |

Black-market dollar exchange rate this weekend.

The black market dollar recorded a slight increase this morning, as it ranged between 27900 Lebanese pounds for purchase and 27800 pounds for sale.

Sharp criticism had targeted the Lebanese government’s proposed plan to be implemented with the International Monetary Fund to implement reforms in the banking sector.

For its part, the government had reservations about the details of the plan during negotiations with the IMF, but some provisions began to leak to the media.

Among the items that were revealed, is the agreement with the Fund to write off 60 billion dollars from the funds of Lebanese banks in the Banque du Liban, which are for depositors out of 80 billion dollars, then each bank operating in the Lebanese market is evaluated individually, and each bank that can continue, restructs its capital, and every institution that is not viable is liquidated, and this requires huge contributions from large depositors to increase the capital of banks.

As for small depositors in banks, under the plan, every depositor in every bank who can continue will be protected, and the bank will return at least $ 100,000 in fresh dollars from his existing balance before March 31, 2022, and the payment mechanism will be determined at a time, and the remaining deposits will be paid in Lebanese pounds. .

    Source:
  • Sawt Beirut International