Fears of the lira exchange rate spiraling out of control... and chaos!

A senior government source acknowledged that there is heavy pressure on the stability of the Lebanese lira’s exchange rate, but said there is “international and local consensus to keep the exchange rate stable, despite the daily losses Banque du Liban is incurring to achieve this.”

He revealed to Kuwait’s Al-Anbaa that “the aim is to preserve the living stability of military personnel, who are suffering greatly as a result of the decline in the value of their salaries.”

He did not hide the fact that “any loss of control over the exchange rate could be accompanied by matters slipping out of control and descending into chaos.”