lebanon financial crisis – DIGIT INFO

Report: Lebanese Pound Exchange Rate Against Dollar Plunges to All-Time Low

DIGIT — Tue, 31 May 2022 05:30:08 +0000

After relative calm for a few months, the Lebanese pound has plunged to an all-time low of 35,600 per dollar, a report has said. The currency’s latest slide is expected to worsen Lebanon’s economic challenges. Pound Depreciation In a sign that Lebanon’s ongoing economic crisis is worsening, the black market exchange rate of the Lebanese […]

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Report: Lebanon Planning to Devalue Currency by 93%, Depositors to Lose $38 Billion

DIGIT — Wed, 09 Feb 2022 19:00:49 +0000

The Lebanese government is reportedly planning to devalue the local currency by up to 93% in a desperate bid to receive funding from the International Monetary Fund (IMF). As part of the plan, a major portion of foreign currency deposits in the banking system will be converted into local currency at different exchange rates. Bailout […]

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Lebanon’s Financial Meltdown: Currency Plunges 80%, Huge Losses at Central Bank, IMF Bailout Stalled

DIGIT — Mon, 29 Jun 2020 11:15:54 +0000

The financial crisis in Lebanon has seen its currency, the Lebanese pound, fall 80%. The International Monetary Fund (IMF) has estimated that the country’s central bank has accumulated losses as much as 170 trillion pounds. The disagreement between the Lebanese government and the central bank has stalled bailout discussions. The economic and financial crisis in […]

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