| 28 May 2024, Tuesday |

Judicial developments undermine circular 161, dollar exchange rate likely to soar

In light of the latest developments in the judicial confrontation with banks, it seems that economic stability in this country is inconceivable.

Whenever a citizen breathes a sigh of relief, a new calamity appears, and what worries him most is that the fate of the tidbits of his deposits trapped in banks are unknown.

While the banks decided to go on a general strike next week, a new chapter is being opened for the Lebanese economic reality, which may fuel and accelerate the explosion of the social bomb.

To shed light on this matter, Economist and financial expert Elie Yashoui joined us.

In light of the judicial developments, the dollar exchange rate surged to more than 23,000 LBP, what is the ceiling of this confrontation? Can it be considered that what happened will blow up Central Bank’s Circular 161?

At a time when the International Energy Agency called for reducing oil consumption in light of supply concerns, fuel prices in Lebanon fell slightly as a result of the drop in the price of a kiloliter of imported gasoline, and the prices became as follows:

Canister of gasoline 95 octane 417,000 LBP, gasoline 98 octane: 427,000 LBP, down by 3,000 LBP, cooking gas bottle: 289,000 LBP, down 3,000 LBP as well, while the price of diesel rose 2,000 LBP to 425,000 LBP.

A study conducted by the Faculty of Health at the Lebanese University, on a sample of 384 cases, showed the prevalence of malnutrition among infants and children and a poor nutritional diversity for mothers and children between the ages of 6 and 59 months, due to the high prices of foodstuff, especially milk.

  • Sawt Beirut International