Govt. Finalizes Financial Plan amid Objections on Lira Gradual Floating
The government on Wednesday put the final touches on its long-awaited financial and monetary plan which is expected to be approved later in a session held in Baabda.
“The plan has received positive feedback abroad,” LBCI TV reported.
It said “the issue of floating the lira exchange rate in a gradual manner has not yet been resolved due to objections by some ministers,” noting that “it will be resolved tomorrow.”
Some ministers meanwhile asked Diab about his response to Central Bank Governor Riad Salameh's televised address and the premier told them that he prefers to take his time.
4 years
He is actually waiting for the statement from Iran via Syria so it will take some time to get to him
4 years
Floating the Lira only works in a free style economy and Lebanon is quite capable of handling it IF the economy remains free market.
If on the other hand Lebanon is steered towards a dictatorial Iran style economy, then it will most certainly fail miserably.
4 years
“The plan has received positive feedback abroad,” LBCI TV reported.
Honestly, sort of a worthless statement. The government is well know for making laws---it just NEVER implements the laws unless it makes them money NOW. Look at the electricity reform plan they passed, or were forced to by Berri and Basil's advisor, it does nothing, and nothing has happened. Without meaningful, TANGIBLE, reforms, then back at square zero. IMF is last resort much to chagrin of kizb, amal and fpm and it seems the most likely route.
"Some ministers meanwhile asked Diab about his response to Central Bank Governor Riad Salameh's televised address and the premier told them that he prefers to take his time."
That's because being an 'independent expert' himself, he needs someone to explain to him the numbers and feed him a statement to make later on.