The price of the dollar fell in Lebanon today, Friday, February 18, 2022, in the unofficial (black) parallel market, following a period of rising
The poor and stimulating Lebanon’s economy
Parliamentarian and member of the “Independent Center” bloc, Nicola Nahas, confirmed that “there are items in the budget that contribute to stimulating the economy,” explaining that “there are items that have measures that produce an adaptation to the current situation without affecting the poor.”
In a television interview, Nahas asked, “If we have to secure basics and social support, where do we get the money?”
Nevertheless, Nahas stressed that “Lebanon has very great capabilities,” but considered that “there is a gap in the financial situation,” and said, “We have to address this gap with economic growth.”
Nahas pointed out that “basic goods are exempt from additional taxes,” and added: “With regard to luxury goods, they will have some very small fees.”
Confessions of the ruling Lebanese consumer
And the Governor of the Banque du Liban, Riad Salameh, said last December that Lebanon’s obtaining, under an agreement with the International Monetary Fund, support ranging between 12 and 15 billion dollars, would help to move the economy once more and restore confidence.
He added in an interview with Agence France-Presse: “Our share in the IMF is four billion, and countries can come and add to it through the IMF, and we can usually reach an amount ranging between 12 and 15 billion dollars,” saying that “this amount helps Lebanon to start once more and recover.” trust”.
And the governor of the Banque du Liban added that “the mandatory reserve has decreased to 12.3 billion dollars.”
The Governor of the Banque du Liban, Riad Salameh, acknowledged that the official exchange rate was “no longer realistic”, following the Lebanese pound lost more than 90% of its value once morest the dollar, while the exchange rates within the central bank and the parallel market varied.
Salameh said that the price of 1,507 pounds to the dollar, officially approved since 1997, “is no longer realistic today” following it “served” the economy and made “the economic and social situation in Lebanon good in 27 years,” explaining that it is not possible to unify the exchange rate in isolation from political stability and before an agreement with International Monetary Fund.
Quota and exchange platform
The Governor of the Banque du Liban, Riad Salameh, surprised the Lebanese by allowing banks to conduct cash withdrawals in dollars with a certain quota according to the exchange rate on an exchange platform.
An exchange platform is a platform affiliated with the Central Bank that conducts normal banking business according to a daily price of the US dollar, which is usually close to the black market exchange rate.
The price of the dollar today in Lebanon today
And the dollar exchange rate in Lebanon was recorded today, Friday, February 18, 2022, in the unofficial (black) parallel market, to record regarding 20,850-20,900 thousand pounds per dollar, compared to 21,000 pounds, 21,050 thousand pounds per dollar yesterday.
The disappearance of the governor of the Central Bank of Lebanon
A security patrol raided two homes of the Governor of the Banque du Liban, Riad Salameh, in search of him, to implement a judicial subpoena, but did not find him.
Another force from the Lebanese State Security also raided the Central Bank building in Beirut, but they also did not find it.
The Governor of the Banque du Liban, Riad Salameh, did not appear before the Public Prosecutor in Mount Lebanon, Judge Ghada Aoun, in the interrogation session scheduled for Tuesday, at the Palace of Justice in Baabda, as part of the complaints filed once morest him on charges of illegal enrichment, money laundering and waste of public money.
This is the third time that he has been absent from the hearing, on the pretext that the prosecution is political, and illegal because of his filing a lawsuit to stop Judge Aoun from the case and thus obligating the suspension of its proceedings.
While information circulated that there was a dispute between the State Security force, which seeks to arrest Salameh, and the Safety Guards Brigade of the Internal Security Forces.
