Lebanon’s Central Bank leads the chorus of “intimidation” of continued support: Has Washington threatened Hariri with sanctions?

As if there were “pressing the button”, announcing the start of the “Raising support” campaign. Talking to one of the officials of the Banque du Liban or the Central Council leads directly to “purging” them of the impossibility of continuing to subsidize raw materials. If the question is about a monetary, financial or economic issue, they answer that “we can no longer support and the government is not answering us.” A few days ago, they woke up to a crisis dating back months, and the matter is not entirely “innocent.” The Banque du Liban – and all its “allies” – decided to move to “Plan B” based on the decision to face support for the main basic products: medicines, wheat, food basket and fuel. He is assisted in the plan of the “danger of continuous support”, political blocs, men of money … and members of the Central Council. The renewed “intimidation” was caused by Prime Minister-designate Saad Hariri. Salameh has “lost hope” that his “political shield”, Hariri, can form a government for the foreseeable future. He was betting on the new formation so that it could bear the weight of raising public support, so that the “central” would facilitate confrontations with the people. However, with Hariri not returning to Saraya anytime soon, Salameh had no choice but to deal with the interim government headed by Hassan Diab, between whom there are mountains of disputes and miscommunication. They are fighting the ball of responsibility, because no one in the “state” dares to make a decision, or come up with a plan to implement. Faced with this reality, the pressure returned with the launch of an “intimidation campaign.” The old / new argument is that the Central Bank no longer has enough dollars in the “reserve account” to import basic materials. However, does anyone have an answer – with the exception of Salama – on the size of the “usable reserve” of the total “reserve account”, so that the public is clear if the “intimidation” is justified or do you intend to exert political pressure? The only answer that the members of the Central Council have, and they generalized it, is that the amount ranges between $ 2.6 billion and $ 3 billion. It is noteworthy that the number is almost constant for months. The reason is simply that Riad Salameh “misleads” all officials and does not allow them to see any information, even if it is a right to disclose it to the public.

This does not deny the existence of a problem in the form of support in Lebanon, as in most countries support is aimed at benefiting the most affected groups in society. Whereas, comprehensive support for all residents means there is no justice in benefits and a continuation of the logic of concentrating wealth in the hands of a few at the expense of the majority.

Hariri wants to appoint 7 Christian ministers out of 9, and for Aoun to be appointed Foreign Affairs and Defense

For example, one of the country’s “owners of wealth” has a billion dollars. You own more than one car, a driver and your companions, and each member of your family can pay the price of fuel no matter how high its price, but you benefit from importing it at the subsidized price. On the other hand, those who cannot own a car will not benefit from fuel subsidies and, at the same time, will be deprived of the implementation of an efficient and orderly public transport network that reduces cost. What is required, then, is nothing less than finding a new form of support that directly affects the affected groups, preceded by the development of policies that accompany the lifting of subsidies and solutions to the issue of transportation, food, access to medicines and basic services. There is no daily threat that people will stop subsidies, cut off fuel and gasoline, and at a future stage, interrupt Internet service due to the inability to pay providers, and to make “promises” that they do not make. nor are they fattening for “cards” to be distributed to the “needy.” How will the beneficiaries of the cards be determined in a country where the poverty rate is above 55%? If the state cannot issue registration documents, how can people trust the issuance of cards? After depositors’ dollars were stolen and their money confiscated from banks, and the social protection strategy promised to citizens was not approved and in-kind assistance was obstructed, why should they believe more promises? Whoever wants to cancel subsidies, or streamline them, is supposed to have started working months ago, released the card, tested its effectiveness, and addressed the gaps in it, before leaving people without a breadwinner to face the collapse of their capabilities. consumption, the collapse of the currency and skyrocketing prices. Last night, the exchange rate on the “black market” reached more than 8,300 pounds to the dollar. It is true that the factors of its increase are “justified” by the financial / monetary crisis, but an essential part of the exchange rate is controlled by political manipulation. However, the “chorus” that incites against the support is the same that protects Riad Salameh, prevents the application of the law and imposes criminal scrutiny on all BDL accounts, until the value of the losses, liabilities, is effectively known. and liabilities, and the remaining amounts. It is not unlikely that the “demonization” of the subsidies is finally the prelude to a circular that the Central Bank will issue when making the decision to stop paying for the import of subsidized materials, or to reduce subsidies to certain basic products, and pour this out. in the category of political pressure for Saad Hariri to impose his conditions to form the government.

It is not unlikely that the Central Bank will issue a decision to cut subsidies for specific commodities.

With regard to the government file, information is almost being gathered that Hariri is “causing” a problem with the “Al-Ahed team” to escape the real “knot” that prevents the formation of the government and that it represents Hezbollah in it. . At the last meeting between President Michel Aoun and Hariri, the President agreed to have 18 members, divided equally between Muslims and Christians. Surprisingly, Hariri’s new status included appointing 7 Christian ministers out of 9 and leaving Aoun “free” to appoint the Foreign and Defense ministers, on the condition that Hariri also “approves” them. Sources say that Hariri “and after being informed by official US channels, rejected Hezbollah’s participation in the government, either directly or indirectly, thus kicking the government formation. Rather, he was terrified of the idea and could it will be in their interest to postpone it until a regional agreement is clarified, “especially since it has been extended. In recent hours, “news” that Hariri “was not informed exclusively of the ban on ministers affiliated with Hezbollah, but threatened to personally add him to the US sanctions list if he formed a government with the party.” In this context, the leader of the Future Movement, Mustafa Alloush, announced on the channel “Otv” that “those close to Hariri are advising him to present a government formation soon to the President of the Republic … he can form a government without let Hezbollah agree with him, “adding that” Hariri can consult with the blocs that appointed him, and those who have not done so will not enter the government. The President of the Republic has 3 ministers out of 9 ».

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