International Monetary Fund Director Kristalina Georgieva indicated that "the fund is ready to work with Lebanon to solve its financial problems and restructure its debts, but the fund needs a partner within the Lebanese government."
In an interview with CNN during the annual meetings of the International Monetary Fund and the World Bank, she stressed that "the divisions afflicting Lebanon shackle the country and prevent any progress on the level of a new economic plan."
She said, "One hand does not clap. Yes, we are ready to help Lebanon, but we need a partner, but unfortunately the divisions in Lebanon are pushing it down."
Lebanon suffers from a stifling economic crisis, which has caused the value of the Lebanese pound to decline against the dollar and the black market to flourish, as despite the attempts of the Lebanese authorities to regulate the financial situation, the black market continues to affect the value of transactions even in official exchange shops, as the exchange rate ranges since the period of time. The dollar on the black market between 8000 and 9000 pounds per dollar, amid fears that it will cross the threshold of ten thousand in the coming days as a result of the faltering formation of a new government, and because of the Bank of Lebanon's tendency to remove subsidies on some basic commodities, fuels and medicines that were imported by the state according to the official exchange rate (1515 Lira).
Source (Al-Arabiya.net, Edited)
