Banque du Liban issued a new circular elaborating on an earlier statement about dollar withdrawals. Circular 161 states that holders of the so-called “Lebanese dollars,” or “lollars,” can exchange their money with fresh dollars during the month of December at the Sayrafa rate. Under the new regulations, the central bank will supply banks with US dollar banknotes at the daily announced Sayrafa rate — which yesterday stood at LL22,300 — instead of Lebanese lira, and banks will in turn sell these dollars to their clients at the same Sayrafa rate. For example, if the withdrawal limit is $3,000 lollars, clients can take out LL24,000,000 at the LL8,000 lollar rate. But under the new circular, they can also exchange that money for dollar banknotes at the Sayrafa rate, which if it’s LL22,300, will be equivalent to $1,076 in US dollar banknotes — that is, at a haircut of 64 percent. The circular is broadly seen as the central bank’s latest trick to staunch the lira’s depreciation, but while the national currency made slight gains in the wake of the announcement, many analysts predict these will be short-lived given the narrow time period to which the latest circular applies and the lack of a comprehensive financial recovery plan.

An International Monetary Fund spokesperson yesterday indicated potential progress on the road to a financial bailout for Lebanon. IMF spokesperson Gerry Rice said that the fund is currently assessing the $69 billion figure announced by Lebanese officials for the country’s banking sector losses. Announced by the deputy prime minister earlier this week, the figures are in line with those submitted by the previous government. Rice added that “considerable progress” had been made in identifying the amount of losses. Agreement on this number is a prerequisite for any advancement in rescue package negotiations. Talks with the IMF were torpedoed almost two years ago over a disagreement between the government and Parliament on the exact amount of losses.

Passenger traffic at Rafic Hariri International Airport is up 56 percent compared to the same time last year. According to figures released yesterday, in November 2021 the airport witnessed 155,760 arrivals and 186,462 departures. It is currently experiencing 7,000 daily arrivals during the holiday season. So far this month, the airport has recorded a total of 167,210 passengers traffic, 87,593 of whom are arrivals into Lebanon. Despite the increased traffic, tourist numbers are still down compared to pre-COVID-19 and pre-crisis levels, when airport traffic recorded 773,432 passengers in May and June 2019. Most of the tourist activity in Lebanon at present is internal. Additionally, travel warnings issued in response to deadly Oct. 14 Tayyouneh clashes coupled with the recent diplomatic spat with the Gulf monarchies have dissuaded many potential tourists from coming to Lebanon.

The interior minister announced yesterday that he will tackle rising crime rates, particularly theft, by intensifying security measures. Bassam Mawlawi said this upping of measures will include additional checkpoints on roads. In 2021, Lebanon saw a 266 percent spike in theft compared to 2019. Mawlawi’s decision comes just days after an attempted robbery at the Byblos Bank branch in Zalka and just hours after reports emerged that two of the suspected robbers jumped to their deaths while attempting to escape capture by the army. More provisions will be announced soon.

The Internal Security Forces announced another foiled amphetamine smuggling attempt. The bust, which intercepted 45,000 captagon pills allegedly destined for export, was made in the northern region of Akkar, where the drugs were found in the car of a 27-year-old Syrian man who is currently being detained. The Lebanese government is under pressure to control drug smuggling. Earlier this year, Saudi Arabia banned fruit and vegetable imports from Lebanon after it found more than 5 million captagon pills stuffed inside pomegranates coming from the country.

A curfew for those as yet unvaccinated for COVID-19 goes into effect today. The curfew is part of new restrictions announced at the beginning of the month and aimed at curbing the spread of the coronavirus over the holiday season. Under the measures, anyone who has not received at least one vaccine dose must abide by a 7 p.m. to 6 a.m. nightly curfew until Jan. 9 or present evidence of a negative PCR test performed in the preceding 48 hours. The restrictions also limit the capacities of touristic establishments, including restaurants and bars, as well as private gatherings, to 50 percent during this period. The rules go into force as daily new case numbers edge toward the 2,000 mark and follow warnings earlier this week that COVID-19 beds in hospitals across the country were already at 75 percent occupancy.

The UN Secretary-General Antonio Guterres is expected in Lebanon on Sunday. During a planned four-day visit, Guterres will meet with the country’s top officials, including President Michel Aoun, Prime Minster Najib Mikati and Parliament Speaker Nabih Berri, as well as religious leaders and members of the country’s civil society, to discuss the many challenges facing the country. He will also pay his respects to the victims of the Aug. 4, 2020 Beirut port explosion. Finally, he will visit UN peacekeepers in South Lebanon and inspect the county’s southern land border, known as the Blue Line.