Berri calls to declare Financial Emergency State amid currency collapse
24 Jun 2020
Lebanon - Speaker of the House, Nabih Berri, on Wednesday highlighted the necessity to declare a state of financial emergency amid the drastic plunge of the local currency's value.
"The collapse of the Lebanese Pound's exchange rate versus the US dollar, in a suspicious and coordinated way, entails the government, the central bank and the Association of Banks in Lebanon to declare a state of financial emergency and reconsider all the procedures that have been taken to protect the local currency," Berri said.
"It is no longer acceptable that the Lebanese remain hostages to the black markets," he stressed.
Berri's remarks came during an urgent meeting for Amal Movement's senior-ranking officials.
The Speaker considered that Lebanon was facing "an existential challenge," and that salvation lied within the collaboration and dialogue among all the political forces.
He also said that he feared the current scene was similar to that in 1982.
"I do not hide my concern that we are witnessing a similar juncture with the aim of bringing Lebanon down and invading the country with different weapons," Berri warned.
On the US Caesar Act, the Speaker said: "Our principal position in Amal Movement from this legislation is that of the ally who's loyal to those who stood by Lebanon and its Resistance."