The trouble with the creeping expropriation of depositors

Many private firms will go bankrupt because their borrowings are mainly in foreign currency while their income is in LBP.
by A Citizen Initiative

24 January 2020 | 12:28

Source: by Annahar

  • by A Citizen Initiative
  • Source: Annahar
  • Last update: 24 January 2020 | 12:28

In this Monday Dec. 30, 2019 file photo, a woman holds up a stack of U.S. dollars she withdrew from a branch of Bank Audi while it was occupied by anti-government protesters, in Beirut, Lebanon. (AP Photo)

While appearing to do nothing, policymakers are in fact tacitly responding to the crisis. They are doing so by allowing a maxi-devaluation of the LBP, while simultaneously weakening the rights of...
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