Lebanon economy - updates

Rappler's latest stories on Lebanon economy

ARTICLE FINDER

Without IMF bailout, is Lebanon heading for 'hell'?

Jul 11, 2020 - 9:00 AM

A Lebanese source says an International Monetary Fund rescue would help Lebanon avoid the worst, but negotiations are stalling

Lebanese anti-government protesters take part in a symbolic funeral for the country in the downtown area of the capital Beirut, on June 13, 2020, on the third consecutive day of demonstrations due to a deepening economic crisis. (Photo by ANWAR AMRO / AFP)

Top Lebanon retailers on strike as currency plummets

Jul 02, 2020 - 11:40 PM

Some popular stores in Lebanon temporarily halt sales as the Lebanese pound reaches more than 9,000 to the dollar on the black market

People exchange Lebanese pound and US dollar notes on the black market in Lebanon's capital Beirut on June 18, 2020. (Photo by JOSEPH EID / AFP)

Lebanon banks increase exchange rate for dollar deposits

Jun 29, 2020 - 11:25 PM

The Lebanese currency officially remains pegged at around 1,507 pounds to the dollar, but the black market rate on Monday morning, June 29, reportedly reaches a new record of 8,000

A picture taken on June 29, 2020 shows the black market rate, as calculated by specialised websites, of 100 USD in Lebanese Liras by the end of April, 2020. - The Lebanese currency officially remains pegged at around 1,507 pounds to the dollar, but the black market rate on Monday morning reached a new record of 8,000, according to several specialised websites. The cap on dollar withdrawals has led those in need of the foreign currency to resort to changers on the black market instead, sending the exchange rate there soaring. The authorities have struggled to stem the collapse, with the central bank the previous week launching an online platform in an apparent move to oversee money changing operations at an official rate. (Photo by JOSEPH EID / AFP)

Lebanon PM pledges to stem devaluation, reduce food prices

May 21, 2020 - 10:10 PM

The devaluation of the Lebanese pound leads to major hikes in the price of food, much of which is imported

ECONOMIC CRISIS. An anti-government protester stands on top of a car during a demonstration in the Lebanese capital Beirut on April 22, 2020. Photo by Anwar Amro/AFP

Lebanon starts talks with IMF for financial aid

May 14, 2020 - 8:15 AM

The Lebanese government is seeking more than $10 billion in financial support from the International Monetary Fund to save its crumbling economy

CURFEW. An aerial view shows the Beirut Corniche empty during a nighttime curfew imposed to stem the spread of the coronavirus in Lebanon on March 28, 2020. Photo by AFP

Lebanon's economic collapse: What happened?

May 04, 2020 - 9:55 PM

Here's how Lebanon became one of the most indebted countries in the world

A Lebanese protester kicks the entrance of a bank in the southern Lebanese city of Sidon late on April 29, 2020, as anger over a spiralling economic crisis in the country re-energised a months-old anti-government movement in defiance of a coronavirus lockdown. - Clashes broke out between protesters and the Lebanese army , hours after the under-fire central bank chief blamed a lack of government reforms for a spiralling economic crisis that has sparked demonstrations. A plummeting currency and fast-rising prices have reignited protests that saw one man killed in the northern city of Tripoli after being struck by a bullet fired by a soldier in clashes earlier this week. (Photo by Mahmoud ZAYYAT / AFP)

Crisis-hit Lebanon to seek IMF funding after approving reform plan

May 01, 2020 - 1:00 AM

The Lebanese government approves a plan to provide support to 'needy sectors' during the coronavirus crisis, and also aims to get aid from the International Monetary Fund

An anti-government protester stands of the top of a car during a convoy protest in the Lebanese capital Beirut on April 22, 2020, amid an economic crisis exacerbated by the coronavirus pandemic. - Lebanon's worst economic crisis since the 1975-1990 civil war is now compounded by the lockdown. Poverty has risen to 45 percent of the population, according to official estimates.Protests had petered out after a new government took office in January, and demonstrators have largely remained at home since the coronavirus lockdown started mid-March. (Photo by ANWAR AMRO / AFP)

Lebanon bank deposits plunge $5.7 billion in January-February 2020

Apr 25, 2020 - 8:15 AM

A source close to the Lebanese government says the large part of the $5.7 billion had likely been transferred abroad

CURFEW. An aerial view shows the Beirut Corniche empty during a nighttime curfew imposed to stem the spread of the coronavirus in Lebanon on March 28, 2020. Photo by AFP

Lebanon calls for financial aid amid virus outbreak

Apr 06, 2020 - 7:00 PM

Lebanon is in the throes of its worst economic crisis since the 1975-1990 civil war. The coronavirus pandemic adds to the country's difficulties.

An aerial view shows the Beirut Corniche empty during a nighttime curfew imposed to stem the spread of coronavirus (COVID-19), on March 28, 2020. (Photo by - / AFP)