France Considering a Currency Board For Lebanon

Annahar reported yesterday that the French President is considering establishing a currency board for Lebanon in case everything falls apart. Talks about a currency board had emerged earlier this year when Steve H. Hanke, an American applied economist at Johns Hopkins University, suggested such a solution to help establish confidence and stability immediately. While some economists consider this option as not feasible given the size of Lebanon's FX reserves in relation to its monetary base,…

Central Bank Wants to Repay Up To $25,000 To Depositors Starting June 2021

Lebanon's Central Bank issued a statement on Sunday claiming that they're working on a plan with the banks to repay up to $25,000 in "fresh" dollars covering deposits done before Oct 17 2019. The payments will be done in all available foreign currencies and should start by June 30 2021. We all want to believe that this is a good thing, but it's still not clear how the Central Bank will pay back dollars and…
Critiques

The Proposed Capital Control Law is a Disaster

1 month ago
Ever since the Lira crisis begun, all experts agreed that lawful capital control measures needed to quickly be put in place protect the remaining foreign reserves and avoid further depreciation of the Lebanese Lira. Unfortunately, ...
Critiques

Over 57 Millions of Captagon Pills Coming From Lebanon Were Seized by Saudi Arabia

1 month ago
Last week, Saudi Arabia decided to issue a ban on all produce coming from Beirut after seizing millions of captain pills hidden inside pomegranates. Few hours later, Saudi’s Center for International Communication shared an infographic ...
Critiques

The Lebanese Authorities Spent Over 400 Million Dollars to “Clean” The Litani River

1 month ago
Over 1000 billion liras were allocated by the Lebanese authorities to clean the Litani River, in addition to consuming a 55 million dollars loan from the World Bank, and the outcome was over 40 tonnes ...
Critiques

Dear France, Entry Restrictions Are Not Sanctions

1 month ago
French Foreign Minister Jean-Yves Le Drian stated yesterday that France is imposing entry restrictions on some Lebanese figures for alleged corruption or for blocking the government formation. French President Macron had already proposed an initiative ...
Critiques

Lebanon Has Two More Days To Preserve its Maritime Rights

1 month ago
Remember that famous campaign that went viral a month ago urging the Public Works Minister to sign Decree No.6433? Well he did end up signing it but the President has refused to sign it claiming ...
Critiques

BDL’s Platform Set to Introduce a Fourth Exchange Rate

1 month ago
The long-awaited BDL platform “Sayrafa 2.0” was officially launched last week and is aimed at allowing banks to buy & sell dollars and set up a unified rate that is not subject to any manipulation. ...
Critiques

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

1 month 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 ...
Critiques

70% Of Lebanese Want to Leave Lebanon

1 month ago
According to the below Al Jadeed report, immigration has dropped between 2019 and 2020 in Lebanon, but this is due to the pandemic, the travel restrictions as well as the economic crisis in Lebanon. In ...
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