Lebanon faces two scenarios… “black or white”

Financial and economic expert, Antoine Farah, pointed out that “Lebanon faces two scenarios: black and white.”

In an interview with the electronic “al-Anbaa”, he added: “The black scenario falls through the continuation of the situation as it is, that is, as it was in the year 2022, of a presidential vacuum, irregular state institutions, and political tensions that lead to obstructing the process of oil and gas exploration, which may lead to To freeze this file, and at this time we have many imminent deadlines, the most prominent of which is the end of the mandate of the Governor of the Banque du Liban, Riad Salameh, which ends next July, and we know very well that our reserves in foreign currency have begun to dry up with time, and thus we have entered into a major crisis, and this It leads to an increase in inflation and the continued rise of the dollar. Therefore, the purchasing power of the citizen will decline, and we will have frozen the cooperation project with the Monetary Fund, and we will have entered into a vicious circle, and Lebanon will become like bankrupt countries.

And he continued, “The white scenario begins with an internal consensus to end the presidential vacancy, elect a president for the republic, and restore political order to the state, and with the return of this order there becomes a possibility to move the oil and gas exploration file in the right direction, so the French company Total begins its work in Lebanese waters as agreed.” And we have deadlines in which to reconsider the agreement with the Monetary Fund, and reconsider the recovery plan that allows for the signing of the agreement with the Monetary Fund.

He said: “These three indicators: the regularity of the political situation, oil and gas exploration, and the signing of the agreement with the IMF, make us move to another scene, so that the year 2023 will be the first step in the rescue process, and thus there is no talk of the escape of the dollar and the collapse of the lira, and we have begun to talk regarding A scene of a long settlement path, following which every year will be better than another, and the year 2023 will be much better than the year 2022.

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