The Lebanese are rushing to pay off their loans before raising the price of the dollar
The speaker of the Lebanese parliament, Nabih Berri, is continuing bilateral talks with representatives of the parliamentary blocs. To narrow down the differences on the figures that can be agreed for the Lebanese presidency, before the date of another session to elect the president next Thursday.
Asharq Al-Awsat has learned from sources close to Berri that the bilateral dialogues between him and the parliamentary blocs “have not stopped”, in particular the meetings with the head of the “Progressive Socialist Party” Walid Jumblatt, and representatives of “Hezbollah” and of the “Free Patriotic Movement” through its deputy head Gebran Bassil and Representative Alain Aoun, as well as coordinating with representatives of the “Lebanese Forces”, such as Representative George Adwan, the Forces for Change and the independents. The sources say that Berri is trying to limit the names of the candidates to two or three, the agreement on which could constitute a cross between the political forces, then one of them would be chosen as president by the deputies.
At this moment the Lebanese expect a significant increase in the prices of imported materials, with the date for the approval of a new price for the dollar by the customs, which is 15 thousand pounds, starting from the beginning of December. The same price will also be set, starting early next February, for debtors to banks to pay off their loans thereon, noting that most of them still have salaries that don’t allow for it.
Thousands of borrowers in recent days have turned to banks to try to pay off their loans based on the current exchange rate, or £8,000; So that they don’t have to make double payments later. While a number of banks allow this on the condition that the loan is repaid in one payment by check, other banks require loans to be paid in dollars.