Finance Minister confirms public sector salaries have been calculated at LBP 60,000

Caretaker Finance Minister, Youssef Khalil, confirmed that the salaries of all public sector employees, in the public administration or independent institutions, as well as military personnel and the pensions of all retirees, have been calculated at the Sayrafa exchange rate of LBP 60,000 per dollar.

In this context, he urged all concerned parties to receive their salaries and pensions according to this exchange rate. 

He explained that the previous situation, in which some limited cases had their salaries and pensions calculated at the Sayrafa exchange rate of LBP 90,000 per dollar, was related to banking procedures that were conducted before agreeing on the Sayrafa exchange rate of LBP 60,000. The difference is being resolved between the concerned party and their bank, which is reimbursing the rightful owner.

Khalil also urged those who have experienced similar issues to immediately contact their banks.