Wassim Mansouri: Public sector salaries for August will be disbursed in US dollars at an exchange rate of LBP 85,500

Wassim Mansouri: Public sector salaries for August will be disbursed in US dollars at an exchange rate of LBP 85,500

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2023-08-25 | 04:28

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Wassim Mansouri: Public sector salaries for August will be disbursed in US dollars at an exchange rate of LBP 85,500

The acting Banque du Liban (BDL) Governor, Wassim Mansouri, emphasized maintaining monetary stability.

He noted that this stability has been upheld through traditional monetary measures, and the intervention that ensured stability in the past month did not deplete any foreign currency reserves from the BDL.

Moreover, he affirmed that these reserves remain untouched and any future actions will remain within their scope.

Mansouri announced that "public sector salaries for August will be disbursed in US dollars at an exchange rate of LBP 85,500."

"The BDL will not cover the country's deficit through government lending, whether in US dollars or Lebanese lira." He clarified.

He also firmly stated that printing more Lebanese lira to offset the deficit is not a strategy that will be pursued.

Regarding the ongoing forensic audit process, the acting Governor assured that BDL has taken all necessary steps to facilitate the audit and has provided the auditing firm with the required documents, addressing any claims to the contrary. 

Similarly, any necessary documents will be furnished to the judiciary upon request.

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