With BDL’s Latest Circular, We Now Have Four Lebanese Lira Rates

Leave it to the BDL geniuses to figure out new ways to screw us over while pretending to "facilitate" cash withdrawals for people. It took me a couple of hours today to understand the latest circular they issued, and it translates to the following: - The memo concerns approximately 1.6 million account holders in Lebanon having less than LL5,000,000 Or $3,000 in their accounts. - Those who have more than $3,000 will still be forced…

Defaulting is Imminent

Moody's downgraded in the last few days Lebanon's government issuer ratings from Caa2 to Ca, which translates to "Judged to be highly speculative and with likelihood of being near or in default, but some possibility of recovering principal and interest", and is the second lowest rating for a country. In other terms, Lebanon's debt default is no longer a matter of if but when, and it might happen on March 9 when the $1.2 billion…
Critiques

2019 Corruption Index: Lebanon Ranked 137 Out of 180

2 months ago
“Nearly one in two people in Lebanon is offered bribes in exchange for their votes, while more than one in four receive threats if they don’t vote a certain way”. [Full Report] I think this ...
Critiques

A Saudi-like Shisha-Tax Could Work in Lebanon

5 months ago
Saudi Arabia implemented last week a highly controversial Shisha tax that is angering a lot of people online. To sum it up, you get taxed 100% on your bill at any Shisha cafe or restaurant ...
Beirut

2019 Mercer Report: Beirut 53rd Most Expensive City WorldWide, Fourth Among Arab Countries

8 months ago
Mercer’s 2019 Cost of Living Survey ranked Beirut as the 53rd most expensive city in the world, and fourth among Arab cities after Dubai (#21), Abu Dhabi (#33) and Riyadh (#35). “Mercer’s widely recognized survey ...
Critiques

The Proposed Austerity Budget: A Recipe for Chaos

10 months ago
“Lebanons is nearing fiscal crunch”, “Lebanese PM Warns of Catastrophe”, “EBRD urges Lebanon to pursue painful economic reforms to avoid crisis”, “Lebanon Is Facing an Economic and Environmental Disaster” and “As Lebanon leaders talk austerity, ...
Business

Lebanon’s Debt Increases $21,000 Every Minute

1 year ago
In 2018, Lebanon’s national debt increased by $6.6 Billion Dollars, which amounts to almost $12,500 every minute. This year, the debt is expected to increase by $11 Billion Dollars, which means that that it will ...
Business

LCPS 2018 Report: 95% of Lebanese Think We’re Headed in The Wrong Direction

1 year ago
The Lebanese Center for Policy Studies (LCPS) released its Feb 2019 report and revealed some interesting finds after conducting a survey back in October 2018 with 1,200 respondents. According to the repot, The survey was ...
Business

Lebanese Candidate Ziad Hayek to Challenge U.S. President Trump’s Choice

1 year ago
World Bank elections are nearing and Lebanon has put forward a candidate that may challenge U.S. President Trump’s Choice David Malpass. In fact, the status-quo in picking the world bank president, which relied on a ...
Business

The McKinsey Report for #Lebanon is Out!

1 year ago
The Ministry of Economy has uploaded the McKinsey full report entitled “Lebanon Economic Vision” on its website. It’s a 1274 pages long report with a long and comprehensive executive summary of around 150 pages. You ...
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