Lebanon’s president wants investigation into currency crash

Lebanon's President Michel Aoun meets with Lebanon's Central Bank Governor Riad Salameh at the presidential palace in Baabda, Lebanon March 3, 2021. (Reuters)
Short Url
Updated 04 March 2021

Lebanon’s president wants investigation into currency crash

  • The dollar exchange rate on the black market decreased 100 pounds, reaching 9,900

BEIRUT: Lebanese President Michel Aoun asked Central Bank Gov. Riad Salameh about the reason for the rise of the dollar exchange rate after exceeding 10,000 Lebanese pounds on Tuesday, which sparked protests across the country.

Aoun also called for an investigation into the “speculative operations on the national currency by individuals, institutions or banks.”

The dollar exchange rate on the black market decreased 100 pounds, reaching 9,900. The unprecedented rise in the rate set off protests that turned violent as ATMs and banks were damaged on Hamra Street in Beirut.

Protesters also took to the streets on Wednesday, for a second consecutive day, and blocked roads for limited periods.

The Association of Banks in Lebanon (ABL) denied that banks had any role in the rise of the dollar exchange rate. In a statement, the ABL said political uncertainty amid the government’s resignation seven months ago was one of the reasons for the high exchange rate on the black market. It also pointed toward unsubsidized imports from the Banque du Liban, scarcity of the dollar in the local market, and the largest national deficit in Lebanon’s history as contributors.

The ABL said creating cash in pounds to limit the state's deficit has also had a negative impact on the dollar exchange rate. It noted “an illegal circulation of the dollar via electronic platforms” as a contributor to the problem.

Bechara Al-Asmar, leader of the General Labor Union, announced on Wednesday his organization is preparing for a demonstration “amid the accelerated economic conditions, which warn of a great collapse.”

Lebanese Maronite patriarchs said the opposition in the streets shows that the country is suffering economically and financially.

 


Lebanon suggests amendments to maritime border deal with Israel

Updated 5 sec ago

Lebanon suggests amendments to maritime border deal with Israel

BEIRUT: Lebanon has submitted to the United States a list of changes it would like to see in a proposal on how to delineate a contested maritime border with Israel, a top Lebanese official said on Tuesday.
US envoy Amos Hochstein has shuttled between Lebanon and Israel since 2020 to seal a deal that would pave the way for offshore energy exploration and defuse a potential source of conflict between Israel and Iran-backed Lebanese group Hezbollah.
Hochstein sent a draft proposal to Beirut last week. It was discussed on Monday by President Michel Aoun, Prime Minister Najib Mikati and Parliament Speaker Nabih Berri.
Deputy speaker of parliament Elias Bou Saab said he had earlier that day submitted to the US ambassador in Lebanon the amendments Beirut would like to see, without providing details.


SPOTLIGHT

Will maritime-border settlement imply Lebanon’s indirect recognition of Israel?


He said he does not think the proposed changes would derail the deal and that, while the response did not signify approval of the draft, talks were so advanced that “we are done negotiating.”
Speaking to local broadcaster LBCI, he said the draft deal had been produced by thinking “outside of the box.”
“We started to talk about it as a business deal,” Bou Saab said.
The 10-page draft appears to float an arrangement whereby gas would be produced by a company under a Lebanese license in the disputed Qana prospect, with Israel receiving a share of revenues.

Opinion

This section contains relevant reference points, placed in (Opinion field)

While that company has been officially named, Lebanese officials have publicly suggested a role for TotalEnergies SE . A top Israeli official was meeting company representatives in Paris on Monday, according to a source briefed on the matter.
Bou Saab on Tuesday said that, according to the draft deal, Lebanon had secured all of the maritime blocs it considered its own.
He added that Lebanon will not pay one cent from its share of Qana to Israel.

A Cup of Gahwa
The taste and traditions of Saudi coffee
Enter
keywords

Related


EU pushes to impose Iran sanctions over Mahsa Amini ‘killing’

Updated 04 October 2022

EU pushes to impose Iran sanctions over Mahsa Amini ‘killing’

  • Rights groups voiced concern after riot police used tear gas and paintball guns against students at Tehran’s Sharif University of Technology on Sunday night
  • Video footage showed detainees being taken away with fabric hoods over their heads

PARIS: The European Union said Tuesday it was weighing tough new sanctions on Iran over a lethal crackdown on protests sparked by the “killing” of Mahsa Amini, after a similar move by the United States.
Amini, 22, was pronounced dead on September 16, days after the notorious morality police detained the Kurdish Iranian for allegedly breaching rules requiring women to wear hijab headscarves and modest clothes.
Anger over her death has sparked the biggest wave of protests to rock Iran in almost three years and a crackdown that has seen scores of protesters killed and hundreds arrested.
EU foreign policy chief Josep Borrell said the bloc was considering “all the options at our disposal, including restrictive measures, to address the killing of Mahsa Amini and the way Iranian security forces have been responding to the demonstrations.”
It came after President Joe Biden said the United States would impose “further costs” this week on “perpetrators of violence against peaceful protesters” in Iran.
Rights groups voiced deep concern after Iranian riot police used tear gas and paintball guns against hundreds of students at Tehran’s Sharif University of Technology on Sunday night, with video footage showing detainees being taken away with fabric hoods over their heads.
Protests also spread to schools, with video footage shared by Kurdish rights group Hengaw showing schoolgirls demonstrating in two cities in Amini’s native Kurdistan province.
“Women, Life, Freedom,” the young female protesters chanted as they marched down the central strip of a busy highway in Marivan, in footage that AFP has not independently verified.

Biden gave no indication of what measures he was considering against Iran, which is already under crippling US economic sanctions largely related to its controversial nuclear program.
Iran on Tuesday accused the US leader of “hypocrisy” in invoking human rights to impose fresh punitive measures.
“It would have been better for Mr.Joe Biden to think a little about the human rights record of his own country before making humanitarian gestures, although hypocrisy does not need to be thought through,” foreign ministry spokesman Nasser Kanani said in an Instagram post, reported by Iranian media.
Iran’s supreme leader Ayatollah Ali Khamenei had on Monday accused arch foes the United States and Israel of fomenting the protests.
The riots “were engineered by America and the occupying, false Zionist regime, as well as their paid agents, with the help of some traitorous Iranians abroad,” Khamenei said.

The unrest has overshadowed diplomatic efforts to revive a 2015 nuclear deal between Iran and major powers which had come close to a breakthrough in recent months before stalling again.
But White House press secretary Karine Jean-Pierre stressed the “problems with Iran’s behavior” are separate from efforts to revive the nuclear deal, which Washington will pursue “as long as we believe” it is in US national security interests.
In his first public comments on Amini’s death, 83-year-old Khamenei stressed on Monday that Iranian police must “stand up to criminals.”
Khamenei said “some people, without proof or an investigation, have made the streets dangerous, burned the Qur'an, removed hijabs from veiled women and set fire to mosques and cars.”
He added that “this is not about hijab in Iran,” and that “many Iranian women who don’t observe the hijab perfectly are among the steadfast supporters of the Islamic republic.”
On Tuesday, an official said singer Shervin Hajjipour — arrested after his song “Baraye” (“For“), with lyrics taken from social media posts about the reasons people were protesting, went viral — had been released on bail.
Another 400 people arrested in the crackdown were released Tuesday “on condition of not repeating their actions,” Tehran prosecutor Ali Salehi said, quoted by state news agency IRNA.
Iran has repeatedly accused outside forces of stoking the protests and last week said nine foreign nationals — including from France, Germany, Italy, the Netherlands and Poland — had been arrested.
At least 92 protesters have been killed so far in the Mahsa Amini rallies, said Oslo-based group Iran Human Rights, which has been working to assess the death toll despite Internet outages and blocks on WhatsApp, Instagram and other online services.
Amnesty International said earlier it had confirmed 53 deaths, after Iran’s semi-official Fars news agency said last week that “around 60” people had died.
At least 12 members of the security forces have been reported killed since September 16.

Related


Iranian singer arrested during Amini protests released

Updated 04 October 2022

Iranian singer arrested during Amini protests released

  • Hajjipour rose to fame for the song “Baraye,” “For,” in which he put together messages posted on Twitter about the reasons for protests

TEHRAN: Iranian singer Shervin Hajjipour, arrested after his song in support of protests over the death of Mahsa Amini went viral, has been released on bail, an official said Tuesday.
A wave of unrest has rocked Iran since the 22-year-old Iranian Kurdish woman died on September 16 after her arrest by the morality police in Tehran for allegedly failing to observe the Islamic republic’s strict dress code for women.
The street violence has led to the deaths of dozens of people — mostly protesters but also members of the security forces — and hundreds of arrests.
“Shervin Hajji Aghapour has been released on bail so that his case can go through the legal process,” Mohammad Karimi, prosecutor of the northern province of Mazandaran told Iran’s state news agency IRNA.
Rights groups outside of Iran reported his arrest last week.
Hajjipour, a 25-year-old pop singer and songwriter, rose to fame for the song “Baraye,” “For,” in which he put together messages posted on Twitter about the reasons for protests.
The emotional performance became a viral hit on different social media platforms, with millions of views within days.
It is no longer available on his Instagram account, which currently has more than 1.7 million followers.
The song featured in many videos of protests on social media, and also made its way to local media.
The ultra-conservative Tasnim news agency published its own version of the video clip, keeping Hajjipour’s voice, while changing the accompanying images into ones showing the Islamic republic’s achievements.
The agency said that its video, posted Sunday on Telegram, is meant to show “more realistic concepts of what is happening in the media battlefield,” by using “more meaningful pictures.”
Tasnim on Tuesday said Hajjipour was arrested “for showing support for the rioters and solidarity with the enemies by posting the song in social media without getting permission for it.”

Related


UNRWA director visits Jenin refugee camp days after Israeli assault

Updated 04 October 2022

UNRWA director visits Jenin refugee camp days after Israeli assault

  • Adam Bouloukos said: ‘I witnessed the extent of the damage caused by the recent Israeli military operation. I saw fear and concern in school children’s eyes’
  • He added that the current level of violence in the camp, and across the West Bank, is at the highest level the agency has seen in years

JERUSALEM: Adam Bouloukos, the UN Relief and Works Agency for Palestine Refugees in the Near East’s director in the West Bank, has visited Jenin refugee camp, the Palestine News and Info Agency reported on Monday.

His visit came just days after a large-scale Israeli military assault on the camp last Wednesday that left four people dead and 44 injured.

During his visit to the camp, Bouloukos was shown an UNRWA clinic that was hit by bullets during the attack, which took place while patients and medical staff were inside. It provides healthcare services to about 35,000 people. He also visited a UNRWA school, where he met students and teachers.

“I witnessed the extent of the damage caused by the recent Israeli military operation,” Bouloukos said. “I saw fear and concern in schoolchildren’s eyes.

“The level of violence in Jenin camp, and across the West Bank, is the highest we have seen in years. Many Palestinians, including refugees, were killed or injured. Violence only brings loss of life, grief for families and instability.

“All parties to the conflict should protect civilians, including Palestine refugees. UN staff and facilities and civilian infrastructure must be kept out of harm’s way. I specifically call on the Israeli security forces to limit the use of excessive force and spare the loss of civilian life in Jenin and across the West Bank.”

Related


Egyptian Presidential Pardon Committee releases 50 pretrial detainees

Updated 03 October 2022

Egyptian Presidential Pardon Committee releases 50 pretrial detainees

  • The legal moves have continued as the government and various political forces in the country prepare for a wide-ranging national conversation on political, economic, and social issues

CAIRO: Egypt’s Presidential Pardon Committee has announced the release of 50 pretrial detainees.
The committee said that it had completed its procedures in coordination with the relevant agencies to release a new batch of detainees who are not involved in violence and do not belong to terrorist groups.
The committee confirmed in a statement the continuation of its work during the coming period in containing and integrating the released persons in accordance with the directives of President Abdel Fattah El-Sisi, which are implemented in coordination with state agencies and institutions.
The names of the list were announced on Twitter by MP Tarek El-Khouly, a member of the committee, which included 50 detainees who received a presidential pardon.
The committee also confirmed its aspiration for more releases.
Tariq Al-Awadi, a member of the committee, said: “We hope to speed up the pace of consideration of the remaining detainees, close this file permanently, and turn this page completely.”
Al-Awadi continued: “All that concerns me is the release of all those imprisoned in opinion cases, and I am not interested in who or what the reason for their release was.”
Last September, Egypt ordered the release of 39 pretrial detainees.
The legal moves have continued as the government and various political forces in the country prepare for a wide-ranging national conversation on political, economic, and social issues.
The committee was one of the outcomes of the first National Youth Conference in 2016, where Egyptian youth addressed government leaders with presidential engagement.
In April this year, El-Sisi said during his speech at the Egyptian Family Iftar that he would reactivate the work of the Presidential Pardon Committee that was formed as one of the outcomes of the conference.
Since the committee’s formation in 2016, a variety of political parties and organizations, including the National Council for Human Rights and parliament’s Human Rights Committee, have submitted the names of prisoners who are eligible for presidential pardon consideration.

Related