Is it possible to reduce the black market dollar?

Is it possible to reduce the black market dollar?

| Monday 05 September 2022

Antoun Al Fata - Akhbar Al Yawm

An informed source stressed that "more than half of Lebanon's problems are based on the reality of sharing what is in it, whether between groups of beneficiaries at home, or with other countries in the region, to leave the borders open to all illegal activities."

The source stressed in an interview with Akhbar Al Yawm that "all black market exchange applications are illegal, yet they are the door that enables more than one party to reap its profits and money. Otherwise, it would have been closed, and trading banned, more than two and a half years ago.”

Asked about the ability to reconcile the rightful demands (or at least some of them), with the results of the exhausting strike of various public sector interests and institutions, which further collapses the country and makes it more difficult than a necessary detail for people's daily lives, the source replied: "What is the benefit of the increase in wages they will receive? And what will they gain, even if their salaries are corrected, with what is required under the black market dollar?”

“What if salaries were corrected today, in full, in exchange for the start of higher prices for all goods and services, more, starting tomorrow? In that case, no correction is worth it, and the problems will increase, especially since strikes, nor indefinite wage increases, cannot be sustained in a country so turbulent and unstable.”

The source concluded: "The problems are not solved by the strike of sectors, but by the need to stop the applications of the black market, and by stabilizing the dollar exchange rate, as an entry point for social stability in the country, which is at stake."

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