Lebanese Prime Minister Hassan Diab announced Wednesday that “the government’s economic and financial plan will be studied by the cabinet this week,” while the country is recording a deterioration in the exchange rate of the local currency (lira).
Diab said in a statement issued by the Presidency of the Government, that the economic plan will be reviewed by the Association of Banks, after its approval by the Council of Ministers.
The worsening monetary and financial conditions in the country have escalated recently, with the exchange rate of one dollar exceeding 4 thousand pounds in the parallel (black) market, compared to 1507 pounds at the central bank.
The statement, on the authority of the president of the Association of Banks in Lebanon, Salim Sfeir, stated that the association will present to the government its plan for economic and financial solutions, within a maximum of 15 days from the date of receiving the plan.
Sfeir denounced “the continuous encroachments on private and public property, especially the headquarters and branches of banks … These actions are unacceptable and unjustified by all standards.”
On Tuesday, angry protesters set fire to a number of bank branches in Tripoli, while army personnel dispersed the demonstrators, who were distributed inside several districts in the city center.
On Monday, protesters resumed their movements in the streets of a number of cities, refusing to deteriorate the living conditions in a country suffering the worst economic crisis in its history.
The news, published on the official page of the Anatolia Agency, is an abbreviation of a portion of the news that is presented to subscribers via the news flow system (HAS). To subscribe to the agency, please contact the following link.