Lebanon finance minister says no deal but on FX fee in finances draft

Lebanon’s newly appointed Finance Minister Youssef Khalil appears on throughout a handover ceremony in Beirut, Lebanon September 14, 2021. REUTERS/Mohamed Azakir

Jan 24 (Reuters) – Lebanon’s finance minister stated on Monday there was nonetheless no settlement on an change fee to be utilized within the 2022 draft finances, “however numbers won’t be removed from” charges of 15,000 to twenty,000 Lebanese kilos per greenback, native tv Al Jadeed reported.

The minister, Youssef Khalil, was referring to charges reported by Reuters on Friday when an official supply stated this vary can be utilized for calculating working bills within the finances, shifting away from the beforehand used official fee of 1,500.

The pound has misplaced greater than 90% of its worth since Lebanon slumped into monetary disaster in 2019. Whereas the official change fee continues to be 1,500 kilos per greenback, on a parallel market one greenback fetches round 23,000 kilos.

The federal government met on Monday for the primary time in additional than three months and can maintain successive periods from Tuesday till the finances draft is accomplished.

Khalil added that the change fee decided by the Central Financial institution’s Sayrafa platform can be utilized to customs transactions within the draft finances.

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Reporting by Laila Bassam Writing by Nayera Abdallah; Enhancing by Gareth Jones and Hugh Lawson

Our Requirements: The Thomson Reuters Belief Ideas.

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