SAWT BEIRUT INTERNATIONAL

| 4 December 2022, Sunday |

Lebanese pound, deposits in Banks well-preserved

“The Lebanese pound is well-preserved,” the famous sentence through which the Governor of the Banque du Liban, Riad Salameh, reassured the Lebanese people’s safety, very inspiring words from the man who stimulated rapid and severe inflation waves for three consecutive years, trying to ignore the losses of the financial system that he managed for 28 years.

Today, he repeats it, saying literally, “The Lebanese pound is OK, and deposits are well-preserved, take a little wait,” during a meeting with employers’ bodies and the Board of Directors of the Association of Banks.

What did Riad Salameh exactly mean? What are the factors that made the dollar rise to this extent? What are the reasons that led to the decline of the dollar in the black market?

 

    Source:
  • Sawt Beirut International