| 18 April 2024, Thursday |

Is it true that dollar rate will fall to 9 000 Lebanese pounds?

Since the beginning of the crisis, the impoverished Lebanese have yearned for the old dollar exchange rate “meaning around the 1500s,” so they can see that those were the good old days, but the question that comes to mind is: Can the dollar rate revert to its previous era following this prolonged decline? In this regard, the Economy and Trade Minister Amin Salam stated: “The economic data show that if there is integrated work with the International Monetary Fund and the dollar is pumped back into the market and the economic wheel moves, we can reach a margin for the exchange rate between 9,000 and 12,000 pounds.” What is the truth behind this statement? What are economists’ thoughts on it?

What about the International Monetary Fund’s conditions, and can the government fulfill them?

What about possible solutions?

At a time when the country is experiencing its worst financial and economic crisis, and with the dollar exchange rate, which controls the prices of basic commodities, on an upward trajectory, the Lebanese are standing amid promises and hopes from the ruling authority, which is busy in turn with political jokes and Twitter indiscretions.

  • Sawt Beirut International