The continuation of the monetary crisis in Lebanon (Hussein Beydoun / Al-Araby Al-Jadeed)
The dollar exchange rate has exceeded In Lebanon For the first time in the history of the country, and from the beginning of the economic crisis at the end of 2019, the threshold of forty thousand Lebanese pounds, at a time when fuel prices continue to rise.
This falls on the anniversary of the October 17, 2019 uprising, which was launched after the exposure of the economic collapse and the smuggling of millions of dollars from Lebanese banks overseas.
record price exchange of dollars On the black market, this morning, between 40,100 and 40,300 pounds, in a path that has not been affected by the positive climate established by the agreement that delimits the southern maritime border between Lebanon and Israel.
On the fuel line, the prices of 95 octane and 98 octane gasoline increased by 7,000 pounds, diesel was 9,000 pounds and gas 3,000 pounds, bringing prices as follows: 95 octane petrol 737,000 pounds, 98 – octane 754,000 pounds, and diesel or diesel fuel 884,000 pounds and a 440,000 pound gas cylinder.
Today marks the third anniversary of the “October 17 Uprising”, which was launched by what was known as the “WhatsApp tax”, before the movement expanded to protest against Economic conditions Today the street has lost its excitement, despite the worsening of the crisis and the crazy increase in prices, which also included telecommunications and the Internet, at prices more than tripled.
That phase saw the first strikes in the banking sector, accused of committing the “crime of age”, as it is called in Lebanon, which consists of smuggling depositors’ money, transferring it to the privileged and seizing people’s deposits. Even today the banks go on strike every time the judiciary knocks on their door, and they close the doors in the face of customers, to protest the fact that some of them are fulfilling their rights.
Protests continued on Lebanese streets for several weeks, during which Prime Minister Saad Hariri’s government fell on October 29, 2019, and raised the slogan “Everything Means Everything”, to put the entire political system in a box, and keep is responsible for the waste of public money, corruption and the collapse of the country, due to the accumulation of quotas, patronage, agreements and agreements in collaboration with the banking system, all at the expense of the Lebanese people.
Since the end of 2019, Lebanon has seen an unprecedented collapse in various sectors that have been paralyzed due to public sector strikes and declining services, and the authorities recently decided to adopt £ 15,000 as an exchange rate. official instead of 1,507 pounds, after having also raised the customs dollar, in a path that should be implemented at the beginning of next month, knowing that all the decisions taken and the laws that pass under the mantle of reform, and to satisfy the International Monetary Fund, exacerbate the suffering of people, at a time when money owners, banks and politicians are protected.
