Three Key Reasons Behind the Lebanese Lira’s Recent Freefall

The Lira has lost over 90% of its value in the past 18 months and there is no end in sight. However, what's noticeable is that the Lira dropped from 10,000 to 15,000 to the dollar in just one week. What changed in the last week? What are the reasons behind this quick collapse? 1- Measures against currency exchange offices & platforms: The supply & demand is what's making the Lira drop, but it has…

Lebanese Lira Hits New Low, Crossed 15,000 Mark

It's been few months now that the Lira had been losing 200/300 Lira every week or so of its value, but the Lira's latest plunge has made it lose over 90% of its value in few days time and it just crossed the LL 15,000 mark today. It's hard to describe the key reason behind this recent deterioration as there are many factors involved, but the shortage of dollar tops them all. People and businesses…

Two Lebanese-Americans Arrested & Charged For Assaulting Capitol Police Officer

Julian Elie Khater, 32, of Pennsylvania, and George Pierre Tanios, 39, of West Virginia were arrested earlier today and charged for assaulting US Capitol Police Officer Brian Sicknick, who died after responding on January 6 to hundreds of rioters who stormed the Capitol. Both protesters sprayed police, including Sicknick, with a toxic chemical spray during the Capitol riot. Khater called what was in the cannister "bear sh*t,". Khater & Tanios are of Lebanese origins according…

Thieves Are Going For Manhole Covers & Train Parts

Soaring poverty has led to an increase in the theft of manhole covers, and more recently train parts from Tripoli's Railway station. A manhole cover weights around 70kg and is being sold for around $100, which is twice as much as Lebanon's minimum wage, given that one dollar is now worth over LL12,000. The authorities haven't yet arrested the thieves, and the inability to replace these manholes is making the streets increasingly perilous for vehicles…
Critiques

There’s No LL1,000,000 Bill (Yet)

4 years ago
A picture of a 1,000,000 LL bill has been circulating online for the past week, however it’s a fake bill that was shared by Al Khanda2 newspaper to reflect on the continuing Lebanese lira downward ...
Health

Around 1000 Doctors Are Considering Leaving Lebanon

4 years ago
Last year, the head of the doctors’ syndicate stated that over 400 doctors had left the country, creating a major problem for university hospitals and for the overall medical sector. This year, Abou Sharaf declared ...
Baladi

Pope Francis Will Visit Lebanon After Iraq

4 years ago
Pope Francis told reporters after completing his historic trip to Iraq that his next destination will be Lebanon, but he did not specify the date. The 83-year old head of the Catholic Church plans to ...
Critiques

Did The Iranian Ambassador Ignore Wehbe’s Summoning?

4 years ago
Zgharta MP Michel Moawad tweeted this morning that the Iranian ambassador has refused to get summoned by Lebanon’s Foreign Minister, following comments made by the Iranian state-tv against Patriarch Rai. Foreign Minister Charbel Wehbe had ...
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