SAWT BEIRUT INTERNATIONAL

| 27 November 2022, Sunday |

Central Bank Governor: The exchange rate cannot be unified

Central Bank Governor Riad Salameh revealed that the mandatory reserve has dropped to $12.5 billion, explaining in an interview with AFP that “obtaining support ranging between $12 and $15 billion, under an agreement with the International Monetary Fund, will help revive the economy and restore confidence.

Salameh stressed that the discussion with the IMF is still regarding numbers, and there is no ready plan yet to discuss it. He said that the official exchange rate 1,500 LBP per dollar, is no longer realistic, and cannot be unified without political stability and before an agreement with the IMF.

Salameh also confirmed that the Central Bank is able to finance the import of the remaining subsidized goods for a period ranging between 6 and 9 months at least.

The pension issue has always raised concerns for a large segment of the Lebanese people, who no longer realize what must be guaranteed today, and they do not know what the next few hours may hold for them in light of the difficult and unstable economic situation.

Today, despite all the tough conditions, a discussion was held, dedicated to the draft law related to the adoption of the pension, and those without breadwinners, which constitutes a very important step in ensuring social security for the Lebanese.

To shed light on this subject, the President of the General Labor Union, Bechara Asmar, joined us.

    Source:
  • Sawt Beirut International