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Mar 6, 2023 · The Lebanese pound has lost as much as 98% in value since late 2019, and now most restaurants and many stores are demanding to be paid in dollars. The government recently began allowing grocery stores like Bazazo’s to start doing the same.
Mar 6, 2023 · The Lebanese pound has lost as much as 98% in value since late 2019, and now most restaurants and many stores are demanding to be paid in dollars.
May 29, 2024 · Now, most shops, restaurants and service providers are asking customers to pay in US currency due to the depreciation of the Lebanese pound – and the bill is hefty. This is not confined to high-end areas of the capital, such as Mar Mikhael.
Feb 3, 2022 · Lebanon plans on returning less than a quarter of some $109bn in trapped US dollar deposits in its recovery plan, according to a Reuters News Agency report. Several officials involved in...
- Vulnerable Bear Brunt
- Give Up The Lira?
- Wealth Inequality on Rise
Unsustainable borrowing, financial mismanagement and corruption by the sectarian ruling elite, coupled with years-long periods of political vacuums and virtually no productive economic growth, have fuelled one of the world’s worst economic crises since the mid-1800s, accordingto the World Bank. Since 2019, Lebanese banks have imposed tight restrict...
Lebanon is faced with a growing debate over whether the country should do away with the lira. Since the 1980s, 60 to 70 percentof the country’s loans and deposits have been in dollars, classifying it as "highly dollarised", which Mansour says is "one of the worst economic indicators". "If the country is only a little bit dollarised, you can treat i...
Some economists have saidthat the dollarisation trend will create two classes - those who have access to dollars and those who don't - widening the already vast income inequalities in the country. However Dagher says that just pricing goods in dollars will not affect wealth inequality; but what will is the ability to access dollars as a source of i...
Mar 6, 2023 · Making things worse for a country reliant on imported food, fuel and other products priced in dollars, the government recently tripled the amount of tax – in Lebanese pounds – that importers...
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Should Lebanese pound be paid in dollars?
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Are supermarket prices marked in US dollar instead of Lebanese pound?
Mar 21, 2023 · Lebanon's central bank will begin selling unlimited amounts of U.S. dollars in a bid to halt the spiralling devaluation of the Lebanese pound, Governor Riad Salameh said on Tuesday.
