The price of the lira in Lebanon was affected by the significant drop in the price of the Syrian lira .. Salama refuses to acknowledge the full losses

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News: The signs of this collapse still appear day after day. For example, the price of the dollar has returned to the rise against the lira, although the Prime Minister, along with the Governor of the Banque du Liban Riad Salameh, had already preached the price control and pushed it down to less than 3,500 pounds per dollar. And the price yesterday rose to the level of 4200 pounds to the dollar, While the money changers announced in the morning that they would sell the dollar for 3900 liras.

And while relevant sources suggested that The price of the lira in Lebanon was affected by the significant drop in the price of the Syrian liraThe same sources pointed out that the mechanism adopted by the Bank of Lebanon will not allow the exchange rate to be easily controlled.

On the other hand, since the beginning of negotiations with the IMF and a little earlier, The Governor of the Bank of Lebanon refuses to acknowledge the full financial losses. Sometimes he is absent from the first session of negotiations, and at other times, he shows numbers that are different from the government figures mentioned in the plan presented by the government and called it the “recovery plan”.

And between the two things, The Association of Banks is drafting an alternative plan to neutralize the bitter cup from the banks and replace them with the sale of state sectors at the lowest price to protect their earnings and owners of capital. But yesterday’s financial meeting in Baabda – in the presence of the President of the Republic, the Prime Minister, the Minister of Finance, the Governor of the Bank of Lebanon, the Director General of the Ministry of Finance Alan Bivani, and each of the advisors, Charbel Qirdahi, George Shalhoub, Henry Shaul, and Talal Salman – was crucial in terms of putting an end to safety estimates, as the latter was subject to the government’s viewpoint And the numbers of losses that I mentioned in the paper (about 241 trillion pounds) after calculating it on the basis of an exchange rate of one dollar equivalent to 3,500 Lebanese pounds. This means that the number is not final, according to what the sources say, and is adjustable according to the rise or fall of the exchange rate at the time.

Thus, the meeting concluded that the figures mentioned in the government’s financial reform plan are considered a valid starting point for continuing negotiations with the International Monetary Fund.

The figure approved here, according to the sources, takes into account the write-off of a third of the financial loans and depends on the price of the gold reserves, according to the price reached by the date of April 2.

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