After a meeting yesterday with Prime Minister Najib Mikati and Minister of Finance Youssef Khalil, the Governor of the Banque du Liban announced the publication of an amendment to Circular 161.

According to this amendment, the Bank of Lebanon will allow the purchase of dollars that it will provide against Lebanese pounds at the price of the Sayrafa electronic platform without a specific ceiling and this while the value of the Lebanese pound has deteriorated sharply in recent days. , breaking its declining records day after day against the greenback.

This information comes as the Bank of Lebanon has increased the money supply in circular by more than 600% over the past 2 years, a decision that would be one of the main factors in the decline of the pound against the dollar, note some economists who point out that now, the monetary authorities are caught between threats of seeing the situation in the streets quickly degenerate due to the deterioration in the value of the Lebanese pound after several organizations call for a general strike. They wonder, however, about the real capacity of the Banque du Liban, whose monetary reserves have melted over the past 2 years, to continue this program, and this while the prospects for the rapid conclusion of negotiations with the IMF remain dependent on the resumption of work. Mikati III government despite the announcement by the international organization to hold virtual meetings at the end of January to discuss the reforms to be accomplished.

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