Lebanon’s currency crisis: New exchange rate policy to cause massive hardship 13.10.2022

Deutsche Welle | Oct 13, 2022 at 2:00 AM
  • Lina Boubess, 62, hasn’t missed any protests since Lebanon’s economic and financial crisis erupted in October 2019.
  • Boubess is worried about the announcement of the government’s plan to slash the official exchange rate from 1,507.5 Lebanese lira per US dollar to 15,000 Lebanese lira — 10 times more than the current official exchange rate.
  • Economist Farhat has urged the government to find a fair solution for people with their deposits locked in the banks, such as giving depositors with less than $20,000 in the bank access to their money to cope with inflation and rising prices.