The Banque du Liban created, on the dollar platform, an additional exchange rate instead of unifying it

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Economic expert Walid Abu Suleiman said, “The Bank of Lebanon says it has 16.61 foreign currencies, and this indicates that we still have $ 80 billion, and we have a big question mark over the reserve figures because they are not published.” .

Abu Suleiman pointed out, during a television interview, that “if we want to remove suspicions and be transparent in front of the Lebanese society, banks must publish the money they own, and if they no longer possess the funds, this means that they are disbursed from the mandatory reserve.” He stressed that “with the platform created by the Governor of the Banque du Liban, he created an additional exchange rate instead of unifying the exchange rate, so the merchant would buy at an exchange rate of 12,000 pounds, and there would be no supply and demand, but only a request. Therefore, this is an additional patch.”

He also saw that “any person today when the parallel exchange rate is 12 or 13 thousand pounds will not sell for less than that, and therefore the Central Bank of Lebanon is trying to reach the parallel price, but it is long overdue. When the Banque du Liban says in its statement that it will secure dollars for the banks at the correspondent banks,” Therefore, he does not sell pounds or buy dollars, he only sells dollars, and the best was to launch the platform, and it is actually for individuals and merchants, and not only for merchants, as is evident. “

He continued, “To attract dollars from the parallel market, the platform had to be launched on the parallel exchange rate, and here it is possible to have transparency.” He explained that the “Banque du Liban” is trying “to absorb a little of the money supply in the market, to reduce a little supply and inflation. This will not continue as long as the Banque du Liban does not have dollars, but rather will squander some of them. “

Abu Suleiman confirmed that he “does not count much on the platform, because one person is offering his dollars, and he is actually saying,“ I do not have dollars, ”and he previously informed the Minister of Finance about this. So today, where is the transparency? 12 to 10%?







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