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The downgrades and tensions over the border with Israel and inside Lebanon led for the first time in years to the U.S. dollar reaching 1,560 Lebanese pounds on the black market in recent weeks for the first time in more than two decades.
September 5th, 2019 - 08:48 GMT

S&P Warns on Drawdown of Foreign Currency Reserves in Lebanon

An international ratings agency warned Wednesday there is a risk that customer deposit flows, particularly by nonresidents, could continue to decline in Lebanon, resulting in an accelerated drawdown of foreign currency reserves that would test the highly indebted country's ability to maintain the local currency peg to the U.S. dollar. {"preview_thumbnail":"https://cdn.flowplayer.com/6684a05f-6468-4ecd-87d5-a748773282a3/i/v-i-f…","video_id":"f7d9015a-9d54-4378-b62b-eb602c235947","player_id":"8ca46225-42a2-4245-9c20-7850ae937431","provider":"flowplayer","video":"Top 10 Women Leading Top Companies in Middle East"} Prime Minister Saad Hariri, however, pledged to keep the national currency ...
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