Lebanese Pound Continues Dropping As French FM Fails To Break Political Deadlock

The Lebanese Pound or Lira continues to drop on Saturday after French Foreign Minister Jean-Yves Le Drian concluded his visit to Lebanon on Friday.

On Saturday, the Lira was trading for around 12,775 LBP while black market traders were selling the dollar for 12,800 LBP and buying it for 12,750 LBP.

While Le Drian reaffirmed France’s support for Lebanon, his brief meetings with President Michel Aoun, Parliament Speaker Nabih Berri, and Prime Minister-designate Saad Hariri did not shake things up immediately.

Le Drian‘s comments at the end of his visit attest to that as he said that “political actors have not yet assumed their responsibility and have not devoted themselves to working seriously for the sake of the revival of the country.”

He remarked that Lebanon needed saving from “collective suicide” at the hands of the political class.

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