Banks Association Says Ready to Help Get Lebanon Out of Crisis

W460

The Association of Banks in Lebanon said Wednesday that it expects from the new government a "clear financial and economic program that takes into consideration the big challenges that Lebanon is facing."

It added that the banking sector is ready to help in getting Lebanon out of its crisis.

Also on Wednesday, the U.S. dollar was being bought at exchange shops around the country for 2,000 Lebanese pounds after hitting a record of 2,500 pounds to the dollar last week.

The official rate remained at 1,507 pounds to the dollar.

Panic and anger have gripped the public as the pound, pegged to the dollar for more than two decades, plummeted in value. It fell more than 60% in recent weeks on the black market.

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