With the postponement of the elections, the lira is now trading at around 8,150 LL, being sold on the black market for a high of 8,200 LL and bought for around 8,100. LL
Similarly, the Lebanese pound drifted deeper into the abyss when PM-designate Mustapha Adibresigned after a failed attempt to form a government.
As Lebanon battles with a severe economic crisis, Hariri continues to be the most likely candidate for the premiership to fill in the governmental void and patch things up and commit to the French Initiative.
For now, consultations to name a new prime minister have been rescheduled until October 22nd.
Our team works tirelessly to ensure Lebanese people have a reliable alternative to the politically-backed media outlets with their heavily-funded and dangerous propaganda machines. We've been detained, faced nonstop cyber attacks, censorship, attempted kidnapping, physical intimidation, and frivolous lawsuits draining our resources. Financial support from our readers keeps us fighting on your behalf. If you are financially able, please consider supporting The961's work. Support The961. Make a contribution now.