| 6 July 2022, Wednesday |

BDL circulars only delay total collapse for a few days

The circulars issued by the Governor of the Banque du Liban, Riad Salameh, fell on top of the dollar’s guardian and immediately plummeted to settle at LBP 28,000.

Regardless of the manipulation process, economists feel that the Banque du Liban’s efforts are only temporary cures in the absence of long-term answers.

What about the significant drop in the dollar following the issuance of the Central Bank’s circular?

The measure taken by the Banque du Liban comes days away from the parliament session, set for next Tuesday, to elect its speaker, vice-president, two secretaries and three commissioners, which was interpreted as an attempt to calm the market and secure the appropriate atmosphere for the session.

  • Sawt Beirut International