After it broke a record level early last week surpassing 33,000 LBP the dollar experienced a noticeable drop today to 27,000 LBP.
Since the prices of fuel and bread are keeping pace with the exchange rate fluctuations weekly, not daily, the prices of other commodities remain subject to the mood of traders and their ability to reduce and raise prices daily to keep up with the rises or declines in prices.
To shed more light on this topic, the head of the Syndicate of Food Importers, Hani Bohsali, joined us.
The Deputy Prime Minister and Head of the Negotiating Delegation with the International Monetary Fund, Saadeh Al-Shami, revealed to Sawt Beirut International that a delegation from IMF was supposed to visit Lebanon to follow up the negotiations, but the travel ban imposed in the US due to the outbreak of the mutant Omicron prevented that.
Al Shami stressed that the negotiations will not be suspended and will be conducted remotely. He also revealed that the government’s reform plan is almost ready, indicating that “the government’s disruption will not hinder us or delay us from continuing negotiations and accomplishing the task assigned to us, provided that everything is ready when the cabinet sessions reconvene.”