Berri Urges 'Financial Emergency' to Stop 'Lira Collapse'

Parliament Speaker Nabih Berri on Wednesday said “the collapse of the Lebanese lira against the U.S. dollar requires the government, the central bank and the Association of Banks to declare a financial state of emergency and review all the measures that have been taken to protect national currency.”

“From now on, it is unacceptable to turn the Lebanese into hostages to the black markets of currency, food, medicine and fuel,” Berri added during an emergency meeting of AMAL Movement’s leadership.

As for the negotiations with the International Monetary Fund, the Speaker said “mistaken are those who think that the IMF or any state or donor would offer us assistance, even with one dime, if we don’t implement reforms, topped by an instant solution for the electricity sector.”

Separately, Berri said “protecting people’s security, freedom of belief and properties as well as the country’s security and civil peace is a religious, legal and ethical responsibility before being a national responsibility.”