Regarding the critical and precarious financial situation in Lebanon, particularly concerning the foreign currency reserves at the central bank in Beirut, a responsible financial source revealed to "Al-Jumhuriya" that "if the current situation persists, there will be no limit to the collapse, nor will there be a ceiling for the rise of the dollar, which could reach figures that are not only astronomical but also imaginary. Just yesterday, the dollar began knocking on the door of 10,000 Lebanese pounds."
The source pointed out that "up until now, despite everything happening, we have not yet reached rock bottom, and the fundamental condition for not hitting the ground is the formation of a government. Every day that passes without the formation of a government weakens and complicates the possibilities for recovery." The caretaker government was criticized and described as "a group of failures who have completely abandoned their responsibilities, only concerned with requesting money from 'Banque du Liban' without realizing the critical state of the mandatory and strategic reserves."
The financial source emphasized that "if a government is formed, things will definitely head in a better direction, but if the current state continues, and if support remains as it is, we will certainly reach a stage where we fall completely." He confirmed that "the foreign currency reserves at 'Banque du Liban' are in severe danger, and their depletion, as is occurring in the ongoing support process, will not separate us from a final fall into the abyss by months, as is said, but rather only a very few weeks, no more." It is well known that the pace of the financial and economic crisis is escalating in Lebanon, with the continued deterioration of the Lebanese pound's exchange rate against the US dollar, where it has lost 80% of its purchasing power, as the exchange rate of one dollar nears 10,000 Lebanese pounds.
