We have reached the collapse peak after the effect of the “patchwork solutions” expired, that were adopted by the Council of Ministers in the weeks leading up to the parliamentary entitlement, with a record and historical record for the exchange rate of the dollar against the Lebanese pound yesterday, after it reached the threshold of 34,000, which started to automatically reflect insanity in prices, with the arrival of the price of Gasoline canister for up to 600,000 Lebanese pounds.
According to financial and economic experts, it is possible to talk about absence of controls, and the absence of a specific ceiling for the rise in the exchange rate, which may soon reach 50 thousand, in light of the inability of the Central Bank to intervene to curb the rise, as it did previously, as a result of reserves reaching unprecedented levels. It became clear that the reasons for the exchange rate fluctuation, besides being linked to the financial and economic situation that reached an unprecedented stage of fragility, are also linked mainly to the political situation that witnesses great rams against the background of the ” pulling ropes” taking place in Parliament, with the attempt of each party to seize the majority scattered among the various political forces. Add to that the struggle over the entitlement to elect a speaker and deputy for Parliament, as well as over the form of the government and its prime minister, up to the fight over the presidency, which threatens a vacuum at all levels and threatens the pillars of the fractured Lebanese structure.
For more information about the successive collapses in Lebanon, the journalist specializing in economic affairs, Khaled Abu Chakra, joined us.