A catastrophic scenario .. the dollar with 6 zeros within months!

A catastrophic scenario .. the dollar with 6 zeros within months!
A catastrophic scenario .. the dollar with 6 zeros within months!

The former head of the Banking Control Commission, Samir Hammoud, expected that the dollar exchange rate would be 6 zeros during a period of 10 months, attributing the reason to the end of the term of the President of the Republic, General Michel Aoun, and the end of the term of the governor of the Bank of Lebanon, Riad Salameh, expressing his fear From the demise of the Lebanese currency.

On the reality of banks, Hammoud told “Voice of All Lebanon” (93.3): “There is a first mistake, which is the unacceptable delay in addressing the banking crisis, and the second mistake is to believe that storming banks will return deposits to their owners.”

He added: “The responsibility is shared between the state, the Banque du Liban, the Association of Banks and depositors, and there must be two goals: preserving the rights of depositors and reviving the banking sector.”

He stressed that “the main problem lies in the belief that the banking sector can continue with capital only. Today, the work pattern has become different, and the sector must be dealt with from the angle of its continuity.”

He pointed out that “the continuity of banks can only be through new capitals, regional partnerships, or merging them into a large bank, and I think that there are very few banks that are able to continue.”

Tags: catastrophic scenario dollar zeros months

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