| 2 February 2023, Thursday |

“There is no limit for the dollar price hike,” says Economist Yachoui

Economist Elie Yachoui said that there is no limit for the dollar’s price hike, due to the impact of Lebanon’s crisis with the Gulf on the current situation.

Yachoui indicated in a radio interview that “the banking system has been emptied of its foreign currency reserves, and there is no solution on the horizon except with bringing dollars.” He noted that “attempts to readjust salaries will negatively affect the exchange rate of the lira.”

He pointed out that “the Central Bank is unable today to control the situation,” warning that “this will lead to a catastrophe, as no one is able to bear the cost of living.”

Yachoui added that, “until now, the circular 151 that provides depositors dollar at the exchange rate  3,900 LBP has not been corrected, which means that the process of stealing people’s money is still continuing, and restrictions on withdrawals are still in place,” asking: “How can families live in this situation?” ‎

  • Sawt Beirut International