Mounir Rached
President of the Lebanese Economic Association
∣ Fully free the exchange rate and apply a unified rate on all financial, commodity, and service transactions domestically and on international transactions
∣ Target an immediate fiscal balance, to be achieved within one year
∣ Reschedule public and private sectors’ debt in lira and dollar, as well as assets and liabilities of the banking sector
Total liberalization of the exchange rate of the lira against the dollar will contribute to achieving internal and external balances. It will improve price competitiveness of local production and therefore increase demand for it, and will curb demand for imported goods and services. There are signs that this trend has already begun. Except for subsidized goods, most imports have declined significantly. This has led some sectors to start noticeable recovery as they have improved their competitiveness
