The funds transferred from the Lebanese diaspora fell by 19.2% during the first 9 months of 2020, says a report from the Banque du Liban. Thus, they would represent only $ 4.7 billion against $ 5.8 billion previously, or at their lowest level since 2007.
Observers note that this fall was mainly motivated by the economic difficulties that Lebanon is going through on the one hand but also by the measures put in place by the banking sector which unilaterally implemented informal capital controls in November 2019.
At the same time, outgoing financial flows have also fallen, the same report notes. Thus, only $ 2.3 billion would have left the Land of the Cedars, down 33.5%, mainly induced by informal capital controls.
So at the net level, 2.4 billion dollars entered Lebanon.
