As of Sunday, black market traders in Lebanon are selling the US Dollar for 15,125 LBP and buying it for 15,175 LBP. The current official rate still stands at $1 = 1,500 L.L. and the bank rate at $1 = 3,900 L.L. Lebanon is currently experiencing hyperinflation as a result of an ongoing economic crisis since the end of 2019. The Lebanese lira has been drastically falling against the previously fixed US dollar rate of $1 = 1,500 L.L. This […]
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Lebanon registered 168 new coronavirus (COVID-19) cases on Saturday, the Health Ministry revealed in its daily report on the outbreak. In the past 24 hours, 4 COVID-19 patients passed away, while 168 others recovered, raising the total number of virus-related deaths and recoveries in Lebanon to 7,815 and 529,228, respectively. The cumulative number of infections confirmed in the country so far has reached 543,267, of which 6,224 are active cases. As of the time of writing, 6,224 COVID-19 patients in […]
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Josep Borell, High Representative of the European Union, held meetings with senior Lebanese officials on Saturday to discuss the local situation and international support. Borell first met with President Michel Aoun in the Baabda Palace, where he affirmed the EU‘s readiness to support Lebanon, only after reform conditions are met. “We have great resources and the intention to help Lebanon re-launch the Lebanese economy. But, before doing that, we must see the implementation of reforms, and the Lebanese leaders must assume […]
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Lebanese health inspectors have exposed a market of inedible meat in northern Lebanon. While performing a daily checkup on the Attarin Souk in Tripoli, municipal inspectors found a large quantity of “strange” meat products being sold at very low prices, according to the National News Agency (NNA). Accompanied by a municipal police patrol, the inspectors took random samples from several butcher shops and sent them to the laboratory of the Chamber of Commerce, Industry, and Agriculture in the city. A […]
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The Lebanese government has recently paid nearly 3 billion Lebanese pounds for various services offered by companies and individuals, without holding a bidding process. According to Gherbal Initiative, a total of LBP 2,929,940,000 was recently paid by the government for several contracts offering services such as cleaning and maintenance at various public institutions, as well as for other fees and expenditures, including rent for public schools. The data is sourced from the latest edition of the Lebanese Official Gazette. The […]
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For months, the fate of the state’s subsidy of essential commodities has been one of the most prominent discussions in Lebanon. Nowadays, almost no day passes by without the mention of subsidies, either by officials and politicians or by syndicates and civil organizations. Similarly, protests and strikes, which have been commonplace in Lebanon in recent times, are rarely free from subsidy-related demands. The point is, the subject is the center of a great deal of attention, and for good reason: […]
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