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.
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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.