Tag Archives: lebanon inflation

Lebanon’s Economic Currency Collapse Crisis, Explained

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The Lebanese Pound has collapsed because of a shortage of US Dollars. The government has defaulted on loans owned by the Lebanese Central Bank, depleting their reserves so they couldn’t pay back regional banks, meaning that depositors are locked out of their deposits. This has triggered branches of government to lash out at each other and led to protests in the street overthrowing the prime minister. Here’s what’s happening.

Lebanon’s 2020 Dollar Currency Economic Crisis and the IMF, Explained

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Lebanon is having a major currency crisis. They promised to pay tens of billions of dollars to investors through years of government bond issuances. Unfortunately they are running low on currency and starting to default on their loans. With no new money coming in, an inability to raise money through taxes, and a simering virus outbreak, a crisis is sweeping their financial system.