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In the midst of French Foreign Minister Jean-Yves Le Drian‘s visit in Lebanon, the Lebanese lira tumbled against the U.S. dollar.
On Friday, black market traders were selling the dollar for 12,625 LBP and buying it for 12,575 LBP.
On Thursday, Le Drian came bearing a message of “great firmness” for the officials, specifically those obstructing the government formation, who could be subjected to travel restrictions and possible sanctions.
However, as some protesters pointed out, France is engaged in negotiations with the same people who led the country to ruin. There is widespread loss of hope and faith in the Lebanese officials.
Even Prime Minister-designate Saad Hariri is considering resigning amid Cabinet formation deadlock, Future Movement sources revealed.
The sudden change in the exchange rate also coincides with new threats that Lebanon is about to suffer a brand new electricity crisis.