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Thursday, September 23, 2021

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Currency Of Lebanon Drops

The Lebanese currency broke a milestone on Sunday. It hit a new low against the dollar as the country’s financial collapse and political stagnation persisted. At the end of 2019, when the economic and financial crisis broke out in Lebanon.

Lebanon is in the midst of a deep economic collapse that threatens its stability. The World Bank has named it one of the deepest depressions in modern history.

At least 15,000 protesters took to the streets across Lebanon for more than a week in March. They protested, blocking roads from burning tires

The shortage has worsened In recent weeks, some hospitals have been discarding elective surgery and only performing emergency operations to remove the remains of the rationing medical supplies
Prime Minister-designate Salad Al-Hariri held a two-day strike this week as drugs ran out and long queues for gasoline frustrated drivers and caused disputes. It has disagreed with President Michel Aon on appointing ministers since his appointment in October.
The previous government, following its resignation after the explosion of the port of Beirut on the 4th.  It promised depositors who were banned from their dollar accounts since last year. a certain amount of access from July, with each customer 400 US dollars in cash currency and the equivalent in Lebanese pound at a rate close to market value, but the International Monetary Fund on Thursday criticized the Lebanese proposal for dollar deposit withdrawals and a capital control bill yet to be passed by parliament that both measures would only make sense as part of broader reforms.

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