Bank has enough currency reserves including dollars for the next 13 months but there isnt enough dollars for importers and traders how does that work well the fact is that the central bank does have. Reserves but the situation is actually quite precarious just because weve been actually living with a large budget deficit and very increasing a trade deficit now the inability of the lebanese government to actually attract capital from abroad its putting a lot of pressure on actually deserves so what the central bank is trying to do is actually slow down sort of of its reserves in order to actually contain this situation right now. Is there a trust issue between the banks and the Central Banks or as the Central Bank Governor has suggested dollars should be used inside lebanon and not outside is he suggesting then dollars are being withdrawn and spent in say syria actually did relationship between the Banking Sector and the central bank is actually quite strong in fact its that high level
A critical source of finance but there are other reasons behind the shortage of cash in the country. On iran for example affected its funding for its ally in lebanon which is also under sanctions this is disrupted the flow of remittances countries also stop providing help to a country they believe is controlled by their rival iran people are starting to take to the streets there is panic over the currency losing value which has hurt their spending power last month the government declared a state of economic emergency for these protesters however this crisis is not new and they want those in power to be held responsible for years of mismanagement and corruption well lets talk more about whats happening in lebanon from beirut we have sami executive director of the lebanese policy studies thanks very much for being with us. So i want to ask you 1st help me out with this the central bank has enough currency reserves including dollars for the next 30 months but there isnt enough dollars for
A critical source of finance but there are other reasons behind the shortage of cash in the country. On iran for example affected its funding for its ally in lebanon which is also under sanctions this is disrupted the flow of remittances countries also stop providing help to a country they believe is controlled by their rival iran people are starting to take to the streets there is panic over the currency losing value which has hurt their spending power last month the government declared a state of economic emergency for these protesters however this crisis is not new and they want those in power to be held responsible for years of mismanagement and corruption well lets talk more about whats happening in lebanon we have sami executive director of the lebanese policy studies thanks very much for being with us. So i want to ask you 1st help me out with this the central bank has enough currency reserves including dollars for the next 30 months but there isnt enough dollars for importers a