The dollar continues its insane rise, which is warning of a potential social catastrophe that could lead to a serious public explosion due to the decline in purchasing power and the soaring prices of fuels and foodstuffs. Political sources, in a communication with Al-Anbaa electronic newspaper, predicted further economic and living deterioration due to the dangerous rise of the dollar and its catastrophic effects on prices and fuels, especially if banks continue their strike in protest against some being selectively targeted by Judge Ghada Aoun. The sources expressed concern about a serious social explosion, as the targeting of banks will have negative repercussions, especially on depositors' funds.
In this context, financial and economic expert Antoine Farah summarized the ongoing crisis, stating that there are fundamental factors that have recently contributed to the accelerated rise in the dollar exchange rate after the money supply in Lebanese pounds significantly increased. This liquidity turned into a tool for speculation and additional pressure on the pound, as a new factor emerged involving the crisis between banks and some judiciary, with the political authority failing to intervene to alleviate fears and attempt to address the crisis.
Farah, in an interview with Al-Anbaa newspaper, noted that in this atmosphere of anxiety, it is natural for the dollar to soar significantly, causing great pain for the Lebanese citizen. This has complicated matters not only due to the ongoing rise of the dollar but also regarding market disruptions in terms of pricing goods or how traders deal with people who have started to feel panicked. This represents a major problem that necessitates temporary measures during this period.
Regarding the bank strike, Farah stated: "When banks face pressure, it can lead to their collapse, so the political authority must intervene immediately to stop the disaster that is beginning to approach. The judiciary needs to find a way to rule on the issue of banks and the relationship between depositors and banks."
