Financial data available to "An-Nahar" confirms that the acting governor of Banque du Liban, Wassim Mansouri, will not renew the issuance of Circular 151, which allowed depositors to withdraw their dollars at a rate of 15,000 LBP per dollar. While the central bank awaits the approval of the financial budget to determine how to handle the withdrawal of deposits, the central bank intends to implement a measure allowing withdrawals in dollars based on a specific monthly amount, to ensure that depositors do not lose their funds.
Bank officials indicate that banks will be unable to translate the government's anticipated decision in the financial budget to allow withdrawals according to the market rate of 89,500 LBP, due to a lack of sufficient funds on one hand, and the pressures on the lira that diminish its value on the other. Therefore, the anticipated measure from the Central Bank is a monthly withdrawal in dollars based on specified amounts, preventing the loss of depositors' money and protecting their rights, until the parliament approves a comprehensive reform package.
According to the information, the expected measures from the central bank at the beginning of the new year will preserve the existing monetary stability and enhance the elements that Mansouri has implemented, which have led to an increase of $759 million in reserves since he took office. It is noteworthy that the government is paying the dues of companies and contractors in Lebanese pounds, without impacting the exchange rate in the market, due to the measures and controls adopted by the central bank since early August.
