Lebanon’s banks continue their strike over the dollar’s record-breaking
The strike of the Lebanese banks enters its second week, in protest against the judicial decisions issued against the banks, which place them in the category of “arbitrary”, at a time when the national currency continues its path of collapse, on the impact of the dollar exchange rate recording new records, which crossed, Monday morning, the barrier of 115 thousand. lira.
And the exchange rate of the dollar was recorded, on Monday morning, between 114 thousand and 116 thousand pounds, which will automatically lead to an increase in the prices of fuel, goods and foodstuffs that have become priced in dollars, and are calculated according to the black market exchange rate and according to illegal applications, noting that the approved price differs from one supermarket to another. , amid complaints by citizens of manipulation that also affects pricing in dollars, in light of the complete absence of regulatory agencies, which further hits people’s purchasing power.
Attention also remains directed to the “banking” dollar, the platform of the Central Bank of Lebanon, which in turn is witnessing a rise that has become almost daily, to reach Friday 80,200 pounds, which automatically reverts to services priced according to “banking”, on top of which is communications, whose bill has increased dramatically. This exacerbates the suffering of people, who continue to complain about poor service, despite the fact that the pretext for raising prices approved by the Ministry of Communications was linked to promises of improvement and providing the best service to customers.
On March 14, Lebanon’s banks decided to resume their strike “to object to the arbitrary judicial decisions” against them, which, according to their expression, returned to a double standard, obliging them to accept the payment of debts belonging to them in foreign currency owed by borrowers by check drawn on the Banque du Liban, or in Lebanese pounds on The basis for the exchange rate is 1,500 pounds per dollar, while banks are required to pay or transfer deposits in foreign currency in cash and in the same currency and for the benefit of some depositors at the expense of other depositors.
The banks believe that the authority’s pledges were not sufficient to address the imbalance, knowing that several decisions were taken with the aim of “satisfying” the banks, and urging them to end their previous strike, the most prominent of which was the political interference in the work of the judiciary, by stopping the hand of the Public Prosecutor of Appeal in Mount Lebanon, Judge Ghada Aoun. , on files related to some banks.
A source in the Association of Banks told Al-Araby Al-Jadeed, “The banks continue their strike in the absence of solutions, and the authorities have not yet taken any move to resolve the crisis and correct the imbalance in the judicial facility, but there are intensive meetings to decide the next step, and that is days away from the end of month, and whether banks will open their doors to conduct some necessary operations, on top of which is the salaries of employees, or not.
The source indicates that “the doors of banks have been closed since last week, but there are branches that open for days, including three per week, and call employees within separate shifts to work from within, with the aim of conducting some necessary and emergency operations related to companies, and pumping money into ATMs that remain operational.” to serve customers, including (money exchange) also for the public sector,” pointing out, on the other hand, that the check clearing system is suspended, pursuant to the strike.
The source points out that “opinions intersect within the association about the effectiveness and feasibility of the strike, especially since it is not the first step taken by the banks in this context. Banks, hence the importance of speeding up finding solutions, and it is the duty of the political authority to act today before tomorrow,” he said.
Depositors’ associations and associations believe that the banks’ strike is nothing but blackmail by them against the judiciary and the state, and a continuation of an attempt to impose the approval of the “Capital Control” law in a form that secures it judicial protection and makes it immune from accountability and accountability, in light of the depositors’ attack on the lawsuits against it in Lebanon. And abroad to recover their rights and money withheld for more than 3 years.
The Lebanese Depositors Association called for a demonstration the day after tomorrow, Wednesday, in Riad al-Solh Square in Beirut, “in defense of the depositors of the Lebanese pound, which has lost all its value, and the money withheld in banks, and the military, retirees, and compensation holders,” according to a statement.
And in light of the strikes that are sweeping the country, and the deepening paralysis of public and educational institutions, linked to the economic crisis and the erosion of the value of wages in the national currency amid an unprecedented high price and the dollarization of most sectors, the administrative body of the Public Administration Employees Association continues its strike, after its recent decision to extend it for two additional weeks until Friday, March 31. , at the level of all regions, calling for two sit-ins on Tuesday and Wednesday, leaving open possibilities for escalatory steps.
The authority indicated, in a statement, that “it was evident from the government’s handling of the employees’ just demands, insistence on a policy of striking the public administration and emptying it of its employees after impoverishing them and their families with meager salaries, through the emigration of some and the resignation of others.”
She pointed out that “the government did not find a solution to convert salaries into dollars through a unified price for administrative employees that corresponds to the minimum amount lost by the salaries of employees, which we demanded to be like the official dollar of 15 thousand pounds, and an allowance for transferring between 7 and 10 liters of petrol for each day of attendance, ( According to the distance from the work center), bearing in mind that the decision or research to give a productivity allowance to employees was eroded by the rise of the dollar before its approval, which proves the validity of our rejection of it unless it is linked to a fixed exchange rate.
The authority reiterated its demands in terms of correcting salaries and transportation allowances, hospitalization insurance and education grants.
And the Lebanese Ministry of Energy and Water issued a new schedule for fuel prices, on Monday morning, which included a significant increase that pushed the 95 and 98 octane gasoline tanks to exceed the two million lira line.
The prices of 95- and 98-octane gasoline increased by 54 thousand pounds, diesel fuel 51 thousand pounds, and gas 36 thousand pounds, and the prices became as follows: gasoline 95 octane 2,044,000 pounds, gasoline 98 octane 2,092,000 pounds, diesel oil 1,932,000 pounds, and a bottle of gas 1,361,000 pounds.
