قالب وردپرس درنا توس
Home https://server7.kproxy.com/servlet/redirect.srv/sruj/smyrwpoii/p2/ World https://server7.kproxy.com/servlet/redirect.srv/sruj/smyrwpoii/p2/ Lebanese "days" far from economic collapse, says Central Bank Governor Riad Salame

Lebanese "days" far from economic collapse, says Central Bank Governor Riad Salame



Lebanon banks were closed after demonstrations triggered by a series of proposed austerity measures, including a WhatsApp call tax, began nearly two weeks ago.

"It's a matter of days because the price is heavy for the country," said Salame, who called for an immediate solution to the crisis, warning of longer-term damage to investor confidence.

Protesters demand the resignation of Prime Minister Saad Hariri's national unity government, forcing road closures across the country and filling the streets of city centers. The demonstrations are the largest in Lebanon for nearly 15 years.

Salame said that Hariri "wants to resign" but is afraid of leaving "a vacancy" in the government. He added that the prime minister aims to reach a political consensus on a new or re-aligned government to "satisfy the people of Lebanon, regain some confidence."

"There is no progress so far," Salame said. [1

9659006] Last Monday, Hariri released an ambitious 17-point action plan to tackle the country's economic crisis, but the move failed to reassure protesters who continued to pour into the streets in large numbers.

"The more the decision is delayed, the greater the cost to the country. There is no economic activity in the country today, "Salame said." Imports are difficult to channel because banks are closed and letters of credit are harder to open than before. "

  Aerial view shows anti-government protest in downtown Beirut. October 20.

The governor, who has been in office since 1993, also warned that the country is at risk to fail in its ballooning.Debt Lebanon has one of the highest They ratios of debt to GDP in the world.

"We have international debts to cover. If you do not cover (them), we are in a situation by default," said Salah. "And on the other hand, those jobs are threatened. Money-losing companies may run the risk of being unable to pay salaries.

"Today, the issue is a matter of a state that has stopped in its activity and (it) cannot afford it," Salame added.


Source link