Lebanon’s currency, the lira, has lost about 95 percent of its value since the start of the country’s economic meltdown in 2019.
It is now trading at close to 50,000 to $1.
Instead of implementing much-needed reforms, the political elite is accused of creating a confusing exchange rate system that is hurting people who rely on it the most.
Al Jazeera’s Zeina Khodr reports from Beirut, Lebanon.
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Islam is destroying the Lebanon
So sad
The problem wil not go away anytime soon.
The fear of Yahweh is the beginning of knowledge;
wisdom and instruction are despised by fools.
Once Lebanon was a prosperous Christian country. They neglected demographic change due to immigrant peacefuls and paying the dues now.
next is Europe
Reason lebanon is prostitution capital of the Arab world=christian arabs
You are a hindu virus.
Bearing fruit for joining Hamas and other Islamic radicals
Lebanon was never rich
Time to go back to gold dominated currency. Only foolish country like Lebanon would used US dollar peg currency. China and Russia is fast forwarding its currency to gold backed.
And yet many Lebanese are so arrogant, not all of them but most of them.
lebanon is another cambodia using US dollar instated local money
In the last 40 years, it was Iranian money which was keeping Lebanon afloat.
No. Not really. The militias, yes.
CENTRALICENSE BANKEY BRANDNEW NEW Money FinancialENDING
Inflation has dropped much lower in Turkey recently. Still it seems the economy is still bad. Yet they’ll re-elect Erdogan most likely.
Yeah good, 🦃 will collapse same way.
Lebanon has no money and no resources.
Lebanon has nothing.
Just forget about it.
Lebanon needed to operate a policy of balanced budgets, they have been walked into this crisis by outside actors, who got the outcome they wanted, a weakened Lebanon, I could see this coming 20 years’ ago.
Social and economic relations based on trust are not sustainable in any Arab or Muslim country.
Another countries Lira is in same direction. 🤷♂️🤣🦃
But India is rape capital of the world
Another gayreek detected. 🙂
@Batur Erbil Turgay fool from when Greeks started to have Sanskritised names? 🤷♂️🤣 Dodo brain Turkas juggling icecream seller detected. 🤣
Lehnallah Yahuth Lehnallah Yahuth Lehnallah Yahuth Nasara Kafir val munafiq jahannami luk
Lebanon 🇱🇧 products are stopped Israel 🇮🇱 attack every time. Formers are attacked by Israel 🇮🇱 terrest Jews ✡
They should have used gold silver etc..
That’s what happens when you have terrorists in government
In times of trouble you should be good with your neighbours
Lol you’re dreaming
Ppl become more savage during terrible times especially in a sectarian society like lebanon
A lebanese Palestinian i know told me that his family had a big house in beirut outskirts and because Palestinians don’t have any rights in lebanon, they have to register the house in a “friend” name, you can see where this is going
The guy just claimed the house for himself and the police were called to kick the Palestinian family out of the house they owned
The family was completely broken and couldn’t believe the injustice
Trust me, lebanese people for the most part are extremely fkin racist and sectarian
Lebanon is a failed state
Isn’t it Lebanese pound??
Lebanese pound is the international name mainly used in English. Lira is the name that they use for the currency in Lebanon/Arabic
@Daniel Fahd that’s confusing
It’s the culmination of your Actions and Inactions. Procrastination.
manilla wich is in philippines was the most pirate port , maybe tififi was havana in indonesia and they are those racist country , not them were the most pirate , just like lebanon in middle east , usa did wanted to get some profit and is all there.
the Philippines is economically sound with positive GDP growth since 1992. thanks God and mabuhay !
start making things, seek help from BRICS…when your currency is so low exporting becomes a goldmine…export breads, also tourism is attractive because visitors get a great exchange rate, capitalize on a weak currency, some countries bring down their currency on purpose for these reasons
build more night clubs that shld solve the prob
Hy
Let’s be honest here… Lebanon has become a failed state and will either have to completely restructure its government or will probably end up being absorbed by neighboring countries if not becoming a new country entirely.
Lebanon has no money and no resources.
Lebanon has nothing.
Just forget about it.
But Lebanon has Hizballah 🤣
@Nick Matatyahu The country has no money and no natural resources.
India is ready is use its $570 billion of forex reserves to send wheat, used clothes and medicines to the starving Lebanese people.
Haha good joke 🤣🤣🤣
I called 50k by Christmas back in June. now im saying it’s going to be 65k by summer. there’s nothing stopping it, the lira has to be abandoned once and for all. 💯
yeah but FK the USD why are you propping up a rich country. USE RUBLES
@Mr Suds im not propping anybody. but logic says that the lira should have been abandoned the day they took it off the FIXED RATE.
most merchants, id so far as to say 70% have changed all their prices to dollars, we should be promoting the expedition of that process as opposed to complaining of what is or was.
Lebanese should buy shiba token for savings future
@arsalan khan lebanese should do a lot of things..
But your gold reserve is very high…don’t worry…😌👍💐
Lebanese don’t work
bitcoin
The more turkey support NATO, The more they will be in trouble😊
One time Lebanon’s used to be a thriving country..in fact,many Ethiopians and,other Africans used to go there and, work to change their lives….I hope the people of Lebanese come together and,solve this madness…I wish them the best.
Lebanese are extremely racist and even amongst themselves they are sectarian and corrupt