Prime Minister Najib Mikati confirmed that the current financial situation was the result of years of accumulation, noting that he was holding daily meetings with the Ministerial Finance Committee, the Governor of the Banque du Liban, Riad Salameh, and the work team to urge them implement feasible solutions with minimal damage to the Lebanese, during a press conference held in the Grand Serail. Mikati went on to explain that there are issues that need to be addressed and that the situation is unsatisfactory, adding that a mission from the International Monetary Fund would visit Lebanon on the January 15th, for the first official meeting and to assess what has been accomplished so far.
In response to a question about the lawsuits filed against the Governor of the Banque du Liban domestically and internationally, and the extent to which they will affect his ability to continue operating, Mikati said that the results will be revealed through the judicial bodies that are investigating in the case, and the appropriate procedure will be taken.
Every day, the Lebanese citizen wakes up to alarming news that has an impact on his livelihood. No official is willing to achieve any reform that would serve the poor citizen, who can no longer bear the terrible economic position and the manipulation of prices, particularly gasoline, oil, etc. All of this is causing the collapse of the national currency, with the Lebanese pound presently at its lowest level since the dollar price breached the 27 thousand pound per dollar benchmark.
Fadi Abou Chakra, the Representative of Fuel Distributors, joined us to discuss this issue.