Berri Urges Govt. to Stop Lira Fall instead of 'Standing Idly By'
Parliament Speaker Nabih Berri on Thursday called on the government to “practice its legal and procedural authorities to halt the dramatic collapse of the Lebanese lira exchange rate.”
“This would be a real social safety umbrella for the Lebanese,” he said.
“The government should not remain standing idly by in the face of the ongoing financial chaos while claiming that it is keen on people's food security,” Berri added.
The Speaker's stance comes after the dollar exchange rate crossed the LBP 3,700 mark at a number of money exchange shops on Thursday.
Tensions have surged since Wednesday between Berri, Prime Minister Hassan Diab and several ministers after quorum was lost during parliament's debate of a draft law that grants the government LBP 1,200 billion for its coronavirus economic aid plan.
Berri dismissed a request by Diab to hold an evening session to pass the draft law, telling him: "Neither you nor anyone else can set the session's time or impose on parliament what it can or should do."
Separately, Berri called for a joint session for several parliamentary committees on Wednesday to discuss the general amnesty draft laws.
23 April 2020, 16:57
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I thought being in the same seat without anyone daring to challenge you, will give enough know how to stop the slide and loss of value of the LBP. You are the government.
As I have been saying nothing will save this country except total collapse and the removal of ALL political class.
With the value of the lBP trending towards Zimbabwe and Venezuela's own defunct currencies, do the honorable thing and retire the LBP for good and adopt the USD as local currency for day to day as some countries have done. After all isn't the economy labeled a s "dollar economy" where everything is quoted in USD instead of LBP.
23 April 2020, 17:15
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Very bad idea @Rabiosa.
Public sector employees are too expensive. We have 10s of thousands of army types whose salary became normal today. We have one of the highest ratios of generals in the world cashing each 1.5million end of service compensation.
Devaluation is a good thing. But not so quickly.
23 April 2020, 17:23
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Agreed. I am sure something can be worked out and the process takes time.
23 April 2020, 16:58
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Berri Urges Govt. to Stop Lira Fall instead of 'Standing Idly By'
If this pos knew anything about finance and economy other than theft he would know there is no hope for the local currency.
23 April 2020, 18:09
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I have another idea---why don't berri and other mp's stop making demands and give solutions. they don't want the imf in because they are afraid of devaluing the lira, selling state assets, reorganizing and now, wow, just like that, we will hit 5000 by the end of the month.
Berri is still the face of corruption---he and basil have been speaking the last couple of days. Not good.
24 April 2020, 09:02
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Screw you and the likes of you, Mr. POS of a speaker; you brought us down to this ugly path and now you are barking at the wrong trees to rescue us from your ugly mistakes (and corruption).
Soon we are going to see tremendous and fast changes that even the league of thieves (Lebanese Parliament) will not be able to grasp and follow; I just hope that innocents won't lose their lives for the sake of their fathers' sins!
