We Wasted 16 Billion Dollars Since 2019; Only 24% Were Used for Subsidies

When the economic crisis erupted in 2019, we still had 30 billion dollars left in the Central Bank. Two years later, we managed to waste 16 billion dollars and ONLY used 24% to back the subsidies. In other words, there are 12 billion dollars that are not accounted for, billions that went into the pockets of greedy merchants, rotten bankers and corrupt politicians. In the mean time, the government has to implement capital control measures…

Lebanon Has Just Received $860 Million From the IMF

Lebanon's Central Bank has reportedly received its share of the IMF's new SDR allocation, totaling $860 million. SDRs are usually meant to help low-incoming and developing countries build reserve buffers and facilitate their recovery efforts, but we all know that's not gonna happen. The IMF Managing Director re-asserted at the International Conference in Support of the Population of Lebanon the need to use these SDRs responsibly and wisely. She continued by stating that "It must…
Economics

Funds Held by Lebanese in Swiss Banks Up By $2.7 Billion in 2020

3 months ago
EM Economist & Former and previous Director of the Geo-economics and Strategy Programme (GESP) Alia Moubayed shared some insightful figures this week on the surge in funds held by Lebanese in Swiss Banks since 2019. ...
Critiques

Lebanon’s Public Debt Has Dropped by Over 80 Billion Dollars

5 months ago
Megaphone shared a very interesting report on how Lebanon’s public debt has dropped by over 80 billion dollars since last year, mainly due to two factors: – Eurobond prices have dropped sharply – Lebanese bonds ...
Economics

Cost of Fattoush Has Gone Up By 210%

6 months ago
Food prices have soared by up to 400% in December 2020 and Lebanon’s inflation rate has hit 84.9% in 2020, the highest since 2013. Last December, food prices have increased by up to 400% as ...
Economics

The Lebanese Pound 100 Years Journey

6 months ago
Lebanon issued its first coins in 1924 in denominations of 2 and 5 (قرش) with the French denominations given in Syrian piastres. The first banknotes were issued in 1925 and it was only in 1939 ...
Economics

The Big Mac Index : Lebanon Now Tops Cheapest Places To Buy A Big Mac

7 months ago
The Big Mac Index was created in 1986 by The Economist and is an “informal way of measuring the purchasing power parity (PPP) between two currencies and provides a test of the extent to which ...
Economics

LSE Study: Questioning The Effectiveness of Foreign Aid to Lebanon

7 months ago
Valentina Finckenstein, the author of this LSE Ideas study entitled “How International Aid Can Do More Harm Than Good: The Case of Lebanon“, questions the effectiveness of international aid to Lebanon throughout the last three ...
Economics

Lebanon Minimum Wage (in $) Has Dropped by Over 90%

7 months ago
The minimum wage in Lebanon is LL675,000 which was the equivalent of $450 prior to October 2019, is now worth 70$ ONLY! And given the rate at which the LIRA is deteriorating recently, it will ...
Critiques

About The New Iskan Housing Loans …

9 months ago
I was looking for information regarding the new subsidized housing loans that were announced a week ago and I found this great informative video by Jad Ghosn. To sum things up quickly, we got $165 ...
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