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Michel Mecattaf

Michel Mecattaf latest

Lebanon: What is the Effect of the Lockdown on the Battered National Currency?
April 2nd, 2020 - 06:00 GMT

Lebanon: What is the Effect of the Lockdown on the Battered National Currency?

The battered Lebanese pound has weakened even more during a coronavirus lockdown, with banks blocking access to already scarce dollars, forcing up their price on the parallel market and the cost of imports the heavily indebted country relies on. Since the government declared a medical emergency on March 15, Lebanon’s cash-strapped banks have limited their services to critical imports and paying out salaries in local currency while opening only a ...
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