This is Beirut - Central Bank of Lebanon

Exchange Rate Stability: Lebanese Pound Withstands the Surge

Christiane Tager, 11/01 13:00 - Reading : 2 minute(s)

Banks Central Bank of Lebanon Lebanese Pound Dollar Joseph Aoun

For some time now, rumors have suggested a drop in the exchange rate from 89,500 pounds per dollar to 50,000. However, Nassib Ghobril, Chief Economist at Byblos Bank, dismisses such claims as “not serious.” “The Lebanese pound has experienced a frenzied demand since the ceasefire and Thursday’s presidential election. Speculators started ...

A Herculean Task for the New President

Michel Touma, 09/01 10:00 - Reading : 5 minute(s)

Banks Central Bank of Lebanon European Union Gulf Hezbollah

The moment of truth is upon us—the time for decisive choices and a critical turning point for the country. Regardless of the outcome of the January 9 election, the election of Lebanon's 14th president presents a historic opportunity to claim the country’s rightful place in the emerging regional order. The new president will immediately face ...

The LBP's Exchange Rate Remains Fixed

This is Beirut, 08/01 21:15 - Reading : less than a minute

Banks Central Bank of Lebanon

The Lebanese Pound’s (LBP) exchange rate remains fixed, despite attempts by speculators to exploit the political atmosphere surrounding the presidential election, official sources told MTV Lebanon. Speculators are reportedly attempting to create the illusion of an improving LBP exchange rate and a declining dollar value, according to the ...

Bank Restructuring in the Council of Ministers: The Stakes of a Highly Controversial Project

This is Beirut, 07/01 14:25 - Reading : 1 minute(s)

Banks Central Bank of Lebanon Lebanese Forces

Lebanon is at a critical juncture in its economic crisis, with a Cabinet meeting scheduled for Tuesday afternoon, chaired by caretaker Prime Minister Najib Mikati, who plans to address several issues, notably a sensitive bill concerning the restructuring of banks. Quietly added to the agenda last Friday, this highly controversial draft has ...

Counterfeit $50 Bills: An Issue Nearing Resolution

Liliane Mokbel, 2024-12-18 20:00 - Reading : 2 minute(s)

Banks Central Bank of Lebanon

The issue of counterfeit $50 bills appears to be nearing a resolution. Over 80% of shops, supermarkets and gas stations now accept these bills for cash payments. The remaining 15% mainly consists of small neighborhood businesses, which have been particularly affected by the economic crisis and the fragility of a cash-reliant economy. “Most ...

Counterfeit Bills: A Closer Look at the Dollar

Liliane Mokbel, 2024-12-06 18:45 - Reading : 3 minute(s)

Central Bank of Lebanon Dollar Bills Counterfeit

Are counterfeit dollar bills circulating in the market? If so, it's clear that this issue is not limited to Lebanon but also affects other global markets. However, the Lebanese are particularly sensitive to it due to the country's economic crisis, which has left the cash economy in a fragile state, all amid a "neither peace nor war" situation ...

Lebanese Forces Urge Hezbollah to Legalize All Its Institutions

This is Beirut, 2024-12-04 10:05 - Reading : 1 minute(s)

Central Bank of Lebanon Hezbollah Lebanese Forces Lebanon

The Lebanese Forces (LF) have urged Hezbollah to “incorporate” itself into the state by legalizing all its institutions, particularly the financial entity al-Qard al-Hassan. The institution recently announced the reopening of 16 branches across various regions in Lebanon, just days after a ceasefire was declared on November 27. In a press ...

Reinsurers Reluctant Toward Lebanese Insurance Companies Over Conflict

Liliane Mokbel, 2024-11-27 16:00 - Reading : 3 minute(s)

Central Bank of Lebanon Hezbollah Israel Insurances Reinsurers

Reinsurers are hesitant to renew reinsurance contracts with Lebanese insurance companies — an expected approach in view of the conflict sparked by Hezbollah’s front against Israel. As the year-end approaches, most annual reinsurance agreements for the 40 insurance companies operating in Lebanon are set to expire. Negotiations have been ...

2025 Budget: A Looming Fiscal Crisis

Liliane Mokbel, 2024-11-15 18:30 - Reading : 4 minute(s)

Central Bank of Lebanon Hezbollah International Monetary Fund Israel Budget 2025

With spending on the rise and revenues falling short of expectations, the 2025 budget proposal is now effectively obsolete. The government must act swiftly to withdraw it from Parliament, where it was submitted on time, to prevent a deepening crisis. Why is a crisis inevitable? The current draft budget relies on unrealistic revenue projections, ...

Trump's Economic Policies and Lebanon's Dollar Crisis

Liliane Mokbel, 2024-11-14 11:25 - Reading : 5 minute(s)

Banks Central Bank of Lebanon Donald Trump International Monetary Fund USA

While the dollar’s value is primarily shaped by US domestic factors, its fluctuations continue to ripple through the global economy. A 2023 International Monetary Fund (IMF) study found that the negative impact of a strong dollar tends to last around two and a half years in emerging markets, compared to just one year in developed economies. The ...

Bank Depositors: The Central Bank Loosens Its Stance

This is Beirut, 2024-11-12 17:55 - Reading : 1 minute(s)

Banks Central Bank of Lebanon Depositors

According to reliable sources, This is Beirut has learned that, in the coming months, the Central Bank (BDL) plans to continue providing two monthly payments instead of one to the beneficiaries of circulars 158 and 161, which allow exceptional withdrawals in fresh dollars. The BDL has decided to respond to the current critical situation by ...

All Eyes on Central Bank’s Reserves

Liliane Mokbel, 2024-11-07 19:20 - Reading : 3 minute(s)

Amal Central Bank of Lebanon Reserves

Political pressure from the Amal-Hezbollah duo on the government is mounting, driven by rising complaints among the displaced population and the decrease in international aid. Faced with limited options, Lebanon is now in a state of voluntary default. All eyes are set on the foreign currency reserves of Lebanon’s central bank (BDL) and the ...

Central Bank of Lebanon