BDL Exchange Plan May Need Cash Injection

  • Economics
BDL Exchange Plan May Need Cash Injection

The Central Bank’s new platform aimed at regulating the uncontrolled exchange rate in the black market may need massive cash injection from the commercial banks or part of BDL’s foreign currency reserves to guarantee its success, economists and banker said.

“The Central Bank can allocate $2 billion from its foreign currency reserves. The first $1 billion should be used to provide cash assistance to the Lebanese who were affected by the crisis provided that the subsidies are lifted. The second $1 billion should be used as a backup for the new platform to help ease the market,” Economist Rock-Antoine Mehanna told The Daily Star.

Read the Full Article at The Daily Star: https://bit.ly/3szxEPl

Source: The Daily Star