Posted By
Najib
Mar 31, 2021 03:46
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 follows: Breakdown of December price increases from a year earlier: - Food and non-alcoholic beverages rose 402.3% - Alcoholic beverages, tobacco up 392.5% - Clothing and footwear increased 559.8% - Restaurants and hotels rose 609% - Furnishings, household equipment and…
Posted By
Najib
Mar 19, 2021 03:27
Lebanon issued its first coins in 1924 in denominations of 2 and 5 with the French denominations given in Syrian piastres. The first banknotes were issued in 1925 and it was only in 1939 that the Lebanese currency became officially separated from the Syrian one. Every three Lebanese pounds were worth 1 US dollar before the Civil war, but it devaluated in the mid/late 80s and the rate was later fixed at 1507.5 Lebanese pounds…
Economics
3 years 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
3 years 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
3 years 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
3 years 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 ...
Critiques
3 years ago
Between end of 2018 and February 2020, 98,885 accounts were closed in Lebanese banks, the majority holding between 5 and 30 Million Liras. $21.3 Billion Dollars is the total amount of cash withdrawn from banks ...
Critiques
3 years ago
Moody’s has lowered Lebanon’s credit score to C, which is the same level as Venezuela. Obligations rated C are the lowest-ranked class of bonds and are typically in default, with little prospect for recovery of ...
Baladi
3 years ago
Fady Gemayel, co-owner and honorary chairman of Gemayel Freres S.A.L., a leading corrugated cardboard company in Lebanon, has been elected as the new FEFCO president for a two-year term. The Brussels-based corrugated packaging industry association ...
Economics
3 years ago
If you’re still wondering why we need that many dollars to import stuff? And why prices of imported items are soaring in recent weeks? Check out this awesome chart created by Bassam Karam grouping all ...
