Patching measures were not able to curb the course of the dollar on the black market, as it touched a record high of more than 80,000 pounds, while the prices of fuel and food commodities, which accompanied its continuous rise, were soaring.
The loose dollar imposed a state of boiling on the Lebanese street, which was manifested by blocking roads in protest against the deteriorating situation, while the banks were a destination for the angry as they were partners in the “crazy party” that citizens paid for, and according to economist Louis Hobeika to “Janoubia” “what is happening is in the course of The dollar is expected, as the Lebanese pound reflects the country’s deteriorating condition, and it is natural that we witness additional rises in the exchange rate.”
What is happening is expected, and the lira reflects the country’s deteriorating condition
He explained that “the role of the Banque du Liban is marginal, because the problem in Lebanon is not monetary, but rather political and social, and therefore the dollar is to “rise” and there is no difference on that.”
Country is like a car going downhill with no brakes
He stressed that “the country is like a car that travels a downhill road without brakes, and this situation continues, and we have no choice but to say that God will protect the country.”
