Mikati: Lebanese Lira Will Return to 30,000, “Feel With Us,” And Much More From His Interview Yesterday

Yesterday, Prime Minister Najib Mikati sat down for a primetime interview with journalist Sammy Kleib on Al-Jadeed. The interview, which handled topics ranging from the presidential election and the multiple crises in the country to the bank strike and his personal wealth, really gave us a lot of content. Here is just some of what our caretaker PM said last night.

#“#@samykleyb@Najib_Mikati pic.twitter.com/zzamVjUwuE

— Al Jadeed News (@ALJADEEDNEWS) February 21, 2023

Speaking of the current presidential vacuum and simultaneous socio-economic crises, Mikati said that “some people want the country to collapse” without a president, and “some people want to keep the country stable” without a president, and he was stuck in the middle, just like some quirky sitcom scenario. He then asked the Lebanese people to “feel with us…we are trying our hardest.”

The country’s PM then revealed that he believes the Lebanese Lira-USD peg will become 30,000 L.L. once a president is elected. A 50,000 L.L. drop from the current 80,000 peg floating on the black market. Mikati also added that he would not be pursuing an extension for Central Bank governor Riad Salameh, who had previously stated that he “would be turning a new page” once his term is over.

##@samykleyb@Najib_Mikati pic.twitter.com/XbAUxmBPMQ

— Al Jadeed News (@ALJADEEDNEWS) February 21, 2023

Similarly, Mikati shifted the issue of Abbas Ibrahim’s forced retirement onto parliament, saying they would have to come to a decision on the matter. The General Security head is currently set to step down on the 2nd of March, when he reaches the retirement age for Lebanon’s security personnel, however there is much speculation that a solution will be found to allow him to extend his reign at the top of the directorate. Holding a legislative session in parliament is currently a hot-button issue, with many MPs insisting that the chamber only convenes to vote for a president. So stay tuned there.

Mikati added that he expects the ongoing bank strike to “end within 48 hours,” and sowed doubts about the true motives of those involved in the bank hits last Thursday, believing that they were “not depositors.” He also added that his government was following the increase in cost of living, stating that “there are some Lebanese people craving a loaf of bread.”

#رئاسة_الوزراء #الرئيس@samykleyb@Najib_Mikati pic.twitter.com/dN6u2amA5P

— Al Jadeed News (@ALJADEEDNEWS) February 21, 2023

Finally, Najib Mikati laughed when informed of Forbes’ estimation of his wealth, sharing a “funny” anecdote about reading these stories alongside his brother (also a billionaire), and wishing they were true, “both the losses and the wealth.” Lebanon is set to enter its 5th month of presidential vacuum in March, the dollar has risen against the Lira by 30,000 in one month, and many have lost access to increasingly expensive (and dollarised) essential services such as food, electricity, and water.