Rise of US dollar shakes Lebanese food and fuel security nowadays. As the political deadlock deepened between road closures and queues at gas stations, protests erupted. Governor of the Central Bank of Lebanon imposed a travel ban in connection with the lawsuit.
BEIRUT: The Lebanese pound hit $ 33,000 on the Lebanese black market on Monday. Protesters have blocked roads in response to news that they have been quickly reopened by the Lebanese Armed Forces. And more demonstrations are expected in the coming days, on Thursday, when serious problems arise from looming fuel supply problems.
With the retail price of a package of bread reaching £ 10,000, the head of the Bakery Owners Syndicate, Ali Ibrahim, warned that bread may not be available in sufficient quantities due to shortages of wheat and flour in the country due to late payments for bread. “The current price of bread is determined by the Ministry of Economy on the basis of the dollar rate of 30,000 Lebanese pounds, but since the dollar rate on the black market exceeds this figure, the price of a package of bread is likely to rise even more.
Anticipating rising fuel prices, people lined up in front of gas stations on Monday night, forcing dozens of people to close ahead of time. Fadi Abu Shakra, a spokesman for Lebanese fuel distributors, said that “the crazy rise in the dollar will lead to a rise in hydrocarbon prices on Tuesday.” He added: “Fuel derivatives are distributed at a price of 28,000 pounds sterling per US dollar, while the exchange rate of the US dollar on the black market has exceeded 30,000 pounds sterling.
This is true for institutions, fuel distributors and gas station owners as well. A clear cause of the destruction and bankruptcy of Lebanese citizens, who bear the brunt of the prohibitively high prices. “We support the Thursday rally,” he continued, noting that fuel will not be handed out on Thursday, “because the demands of the transport unions are correct and they represent every citizen of Lebanon.”
The pandemic caused further disruptions, with several Treasury officials postponing the finalization of the virus-infected draft budget, delaying its submission to the cabinet general. Social Affairs Minister Hector Hajar said that “(number) the number of Lebanese households registered for the two long-awaited cash assistance programs reached 410,000 within a month, or 1.6 million people from different regions of Akkad in northern Lebanon.
Babada, Tripoli, Baalbek, Beirut and Zahle Data show that 59 percent of registered persons are unemployed. Meanwhile, the absence of President Michel Aoun was accused of “non-compliance with the convocation of the Council of Ministers” when signing a decree on the payment of wages to more than 6,000 people in state institutions.
The presidential office said in a statement: “It is not possible to issue an extraordinary approval under a government that is not resigning and is not in the interim.” Meanwhile, relatives of soldiers and retirees have joined the protest in front of the Lebanese army barracks as the military’s monthly salary has been cut to less than $ 37.
Prime Minister Najib Mikati agreed with Aoun on January 5 to sign a decree on the opening of an extraordinary session of parliament for the signing of emergency permits regarding transport benefits for the military, security forces and the private sector. For the public sector: Pay a one and a half month salary to public sector employees in November and December 2021 and renew the contractor’s contracts with the government.
Political confrontation in the country is exacerbated by the refusal of Hezbollah and the Amal movement to attend any cabinet meetings pending the removal of Judge Tarek Bitter, who led the investigation into the 2020 Beirut port bombings. Aoun called for an urgent nationwide dialogue between the country’s ruling parties and on Tuesday met at the Babad Palace with the head of the Loyalty to Resistance bloc, MP Mohamed Raad, who said the bloc supported the invitation.
However, the leader of the Marada movement Slimane Franghi announced that he was boycotting the dialogue along with the Lebanese forces and the future movement. “Negotiations should be between two parties, not just one,” Franzi said. Meanwhile, a large group of Lebanese politicians have formed a new opposition group to end the Iranian occupation of Lebanon through Hezbollah.
During a Zoom press conference in Beirut on Monday, which was attended by some 200 politicians, academics and prominent Lebanese civil society figures, the National Council to End the Iranian Occupation was formally established.
Late Tuesday Tuesday, Mount Lebanon’s attorney general, Judge Gada Aoun, imposed a travel ban on Lebanese central bank governor Riyad Salameh in connection with a lawsuit filed against him by activists.
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