The parity of the Lebanese pound deteriorates slightly on the black market, with an exchange rate of 12,975 LL / USD on the buy and 13,025 on the sell, recovering to its highest levels of last week against the backdrop of a World Bank report which notes that the Lebanese economic crisis could be one of the worst in the world since 1850 .
More than half of the population is currently living below the poverty line, with 41% of households even experiencing difficulties with basic needs such as food.
Among the causes of these difficulties, the rapid increase in the money supply having led to a deterioration in the parity of the Lebanese pound against the dollar, a contraction of the GDP and an effective deterioration of certain fiscal indicators despite an apparent improvement, a fall in imports due to the depletion of monetary reserves and a policy of deleveraging banks to the detriment of depositors.
They thus dissected the mechanisms put in place and the famous financial engineering of the Banque du Liban which also pass on to depositors a large part of their financial losses and the increase in the money supply which has further worsened the situation of the population. faced with a significant loss of purchasing power.
