The Dollar Faces Further Decline… and an Electricity Surprise

The decision made by the Governor of the Central Bank of Lebanon, Riad Salameh, yesterday, Sunday, came as a surprise that quickly impacted the black market dollar rate, which suddenly dropped in the evening. Information suggests that the dollar may continue to decline in the coming days, while Salameh is preparing for another measure to grant a loan to the Electricité du Liban, which will help secure electricity for about ten hours per day. Salameh will require the institution to improve its revenue collection, noting that the measure to secure electricity should be well-studied and limited to areas that pay fees, as it is not acceptable to equate areas that pay with those that do not.