Lebanon Central Bank Plans New Exchange Platform via Bloomberg

A view shows Lebanon's Central Bank building in Beirut, Lebanon January 12, 2023. (Reuters)
A view shows Lebanon's Central Bank building in Beirut, Lebanon January 12, 2023. (Reuters)
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Lebanon Central Bank Plans New Exchange Platform via Bloomberg

A view shows Lebanon's Central Bank building in Beirut, Lebanon January 12, 2023. (Reuters)
A view shows Lebanon's Central Bank building in Beirut, Lebanon January 12, 2023. (Reuters)

Lebanon's central bank is seeking to introduce a new currency exchange platform through Bloomberg, acting central bank governor Wassim Mansouri said on Monday in an interview with Saudi-owned Al-Arabiya television.
The central bank had already said it would phase out its own exchange platform, known as Sayrafa, and was considering Bloomberg as a substitute following concerns about Sayrafa's lack of transparency and governance, Reuters reported.
"On Wednesday, based on a request from the central bank, the cabinet's agenda will include the establishment of an international exchange platform," Mansouri said, adding that it would be through Bloomberg's trading platform.
Sayrafa was set up in May 2021, 18 months into Lebanon's economic meltdown. It was widely recognized as a way for the central bank, also known as BdL, to stabilize the Lebanese pound, which nevertheless continued to decline.
Lebanese authorities and international institutions have criticized Sayrafa for its lack of transparency, unsustainability and the opportunity it created for arbitrage, particularly as the gap grew between Sayrafa's and the parallel market.
The World Bank said buy-side Sayrafa participants may have made as much as $2.5 billion through arbitrage trades.



WHO Chief Says He Was at Yemen Airport as Israeli Bombs Fell Nearby

FILE: A crater is seen on the tarmac of the international airport of Yemen's capital Sanaa, April 29, 2015. REUTERS/Khaled Abdullah
FILE: A crater is seen on the tarmac of the international airport of Yemen's capital Sanaa, April 29, 2015. REUTERS/Khaled Abdullah
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WHO Chief Says He Was at Yemen Airport as Israeli Bombs Fell Nearby

FILE: A crater is seen on the tarmac of the international airport of Yemen's capital Sanaa, April 29, 2015. REUTERS/Khaled Abdullah
FILE: A crater is seen on the tarmac of the international airport of Yemen's capital Sanaa, April 29, 2015. REUTERS/Khaled Abdullah

A wave of Israeli airstrikes hit Yemen's main airport Thursday just as the World Health Organization’s director-general said he was about to board a flight there. One of the UN plane’s crew was wounded, WHO chief Tedros Adhanom Ghebreyesus said in a post on X.

The Israeli military said it attacked infrastructure used by Yemen's Houthis at the international airport in the capital Sanaa, as well as power stations and ports, alleging they were used to smuggle in Iranian weapons and for the entry of senior Iranian officials, The AP reported.

UN associate spokesperson Stephanie Tremblay said the rest of the U.N. team left the airport and are “safe and sound” in Sanaa, and the injured crew member is being treated in a hospital, she said.

Last week, Israeli jets bombed Sanaa and Hodeida, killing nine people. The US military also has targeted the Houthis in Yemen in recent days.

Israel's latest wave of strikes in Yemen follows several days of Houthi launches setting off air-raid sirens in Israel. The Houthis have also been targeting shipping in the Red Sea corridor, calling it solidarity with Palestinians in Gaza.

Israel's war in Gaza has killed over 45,000 Palestinians, more than half of them women and children, according to Gaza’s Health Ministry, which does not distinguish between fighters and civilians in its count.