Economic and strategic expert Jassem Ajaka pointed out that the intervention of the Central Bank of Lebanon to stabilize the dollar will be ineffective as long as there are no accompanying governmental steps. Ajaka stated, in an interview with "Voice of Lebanon," that the problem lies in the Lebanese structure and the lack of trust in politics and judges, as well as the ongoing conflict with the international community since Lebanon defaulted on its debts. He considered that "we are on the path to Venezuela if the dollar continues to rise, but the road to this scenario is still long, and many steps can be taken by the caretaker government."
Ajaka confirmed that the Minister of Finance can address the situation by obligating traders to pay taxes in cash dollars, in addition to the Ministry of Economy's oversight of traders and the Ministry of Interior's control over borders, and the establishment of a joint chamber between the Ministries of Finance and Interior to coordinate information regarding smuggling by traders. He opposed the issuance of one-million-lira notes, deeming it to send negative signals to the markets, adding: "This matter is not on the table, as issuing it requires a decision from the Cabinet."
He revealed that the fate of "Sayrafa" is linked to reaching an agreement with the International Monetary Fund, emphasizing that the negotiating delegation should be attentive to the Fund's request regarding the liberalization of the lira's exchange rate in terms of value and the impact this will have on the poor class.
