The Lebanese Central Bank has raised this week the Sayrafa rate to LBP 89,500 per US Dollar, aligning it as such with the black market exchange rate. This step comes in line with one of the list of reform requirements proposed by the IMF, being the unification of exchange rates. Finally, and while this move will have a positive impact on public sector employees’ salaries, it will lead to an increase in a host of taxes and Sayrafa-based utility bills such as electricity and communications only to name a few.