SAWT BEIRUT INTERNATIONAL

| 16 June 2021, Wednesday | النسخة العربية

Lebanese pound slides as cabinet formation remains stalled  

The Lebanese pound has continued to slump against the dollar on Monday with exchange rates of 8800/8850 pounds per dollar in the black market.

Lebanon is going through an unprecedented economic crisis where the pound has lost more than 70% of its value.

In parallel, political deadlock is still blocking the formation of a new cabinet as the Lebanese parties continue to bicker over personal interests.

Regional and international parties are to decide over Lebanon’s role, nature and identity in the future while the Lebanese people are still paying with their blood the price of defending their country’s independence, sovereignty and diversity.

In the absence of a clear and decisive will from foreign countries, nothing will deter Iran and its party from controlling the country and altering its role and standing in the middle-east at their whim.