Diab Says Citizens Livelihood 'Red Line', BDL to Pump Dollars into Market
Prime Minister Hassan Diab emphasized Friday that the government will not allow anyone to "tamper with citizens' livelihood," warning that "this issue is a red line."
He voiced his remarks during an emergency Cabinet session he chaired at the Grand Serail in the wake of a night of raging nationwide protests over a historic Lebanese currency crash.
The emergency session was attended by Central Bank Governor Riad Salameh, Association of Banks chief Salim Sfeir and the deputy head of the money changers union, Mahmoud Halawi.
After the session, Industry Minister Imad Hoballah announced that the central bank "will immediately start to pump dollars into the market," describing the meeting's outcome as "positive."
Halawi for his part assured that an agreement was reached on "pumping dollars to support basic goods and meet citizens' needs."
"We will be disciplined in selling the dollar and we will sell it at LBP 3,940," he added.
He also warned citizens that buying and selling dollars from and to the unlicensed black market will lead to "the exit of dollars from the country."
LBCI TV meanwhile reported that Salameh and the money changers have pledged that the dollar will be sold at the LBP 3,940 rate and that the governor has vowed to supply money exchange shops with dollar banknotes.
LBCI also said that Diab called Speaker Nabih Berri to "put him in the picture of the discussions."
Source: Naharnet
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