Al-Asmar warns of floating exchange rate

The president of the General Union of Workers, Bishara Al-Asmar, warned about the trend towards the floating exchange rate that marks the markets and called for a criminal financial investigation so that we do not reach financial and security chaos.

He said in a statement: “After flawed financial policies and destructive financial engineering, money and capital smuggling, and after policies of outright support for banks at the expense of small depositors and the announcement of the unavailability of funds to back the products and the intention to lift the subsidy, and after the announcement of the imminent arrival at the red line and violating the mandatory reserve. And after the availability of two billion dollars in support, he suddenly found himself at the central bank and enough for several months to sustain, and after the demanding dollar and its tragedies, the governor of the Bank of Lebanon looks at us yesterday to announce that the era of fixing the exchange rate of the lira against the dollar is over and that we are heading for a floating exchange rate determined by the market, as if it did not know that The foreign exchange market is controlled by mafias, as if it did not know about the reduction of the size of the economy and the lack of movement in it, the size of the enormous money supply that exists and the cessation of trade and markets, as if asking for the dollar to escape all barriers, and to death, chaos and escape.

And he added, “Enough confusion in financial policies, stop making decisions, enough circulars that do not work and exacerbate crises.”

And he called for a criminal financial investigation, appealing to the judgment of the Banque du Liban, Riad Salameh, to “coordinate with the government, official officials, all economic sectors, the General Union of Workers and international donor organizations before launching positions. that complicate things and escape the exchange rate, and lead all groups of people to poverty and destitution and lead to security and immigration chaos. ” Young”.

He concluded by announcing: “Follow-up on the issue with the relevant civil, economic and official bodies to formulate a unified position in preparation for a general warning action against these wrong policies that have led the country to where we are.”