Finance Minister Wazni to LBCI: impossible for exchange rate to return to 1500 LPB

Lebanon's new Finance Minister Ghazi Wazni told LBCI on Wednesday that stopping the “collapse of Lebanon's economy” was possible and would also require foreign support.

When asked about the ability for the Lebanese pound exchange rate to the U.S. dollar to return to 1500 LPB, he said that it would be impossible for it to return to what it was.

He also added that controlling the parallel market, where the price of dollars has risen beyond the official pegged rate, would be "tied to the government's work."