In the wake of Friday’s urgent cabinet session at Baabda Presidential Palace, Minister of Information, Dr. Manal Abdel Samad Najd, said that discussions mainly focused on the country’s financial and monetary conditions, as well as on the measures that ought to be taken to remedy the situation.

“The Minister of Justice has been tasked to request of the Attorney General of the Court of the Cassation to follow-up on the fabricated rumors and false allegations which have led to a sharp decline in the national currency, and consequently shaken trust in the state’s monetary power,” said Abdel Samad.

She disclosed a decision to form a crisis cell — to be headed by the Minister of Finance — who’s been tasked to follow up on the country’s financial and monetary conditions. “The crisis cell, through which the Central Bank Governor will submit a detailed report on the latest developments, will be meeting twice a week. A periodic report, detailing the cell’s activities, will be handed to the Prime Minister.”

“Pumping currency [USD] into the market is not enough. Therefore, measures must be taken to curb illegal operations in a bid to prevent attempts to smuggle hard currencies or tamper with monetary stability,” Abdel Samad added.

Source: NNA