The Lebanese prime minister Hassan Diab addressed Friday the nation after the cabinet session at Baabda Palace, reviewing the financial crisis that has recently exacerbated.
PM Diab said that the Central Bank governor’s approach towards the exchange rate is suspiciously ambiguous, asking him to update the Lebanese on the causes of the deterioration of the value of the national currency.
The prime minister added that there are major gaps at the central bank, citing the withdrawal of $5.7 billion from the Lebanese banks in January and February, 2020.
“There are gaps in the central bank’s performance, strategies, clarity and monetary policy and the bank’s losses have reached USD 7 billion this year,” Diab added.
PM Diab warned those who are tampering with the monetary stability by raising the Lebanese pound exchange rate, adding that the authorities will deal a major blow to them.
PM Diab further warned against a second coronavirus wave, adding that the gradual reopening plan aims at protecting the citizens from the pandemic.
Source: Al-Manar English Website
