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Bundles of Lebanese pound banknotes, their value now drastically reduced. The Lebanese liquidity crisis is an ongoing financial crisis affecting Lebanon, that became fully apparent in August 2019, and was further exacerbated by the COVID-19 pandemic in Lebanon (which began in February 2020), the 2020 Beirut port explosion and the Russian invasion of Ukraine.
The lira or pound [a] is the currency of Lebanon. It was formerly divided into 100 piastres (or qirsh in Arabic) but, because of high inflation during the Lebanese Civil War (1975–1990), subunits were discontinued.
BEIRUT (Reuters) -The European Union has offered Lebanon a financial package of 1 billion euros ($1.07 billion) to support its faltering economy and its security forces, European Commission ...
Lebanon has been in the throes of a severe financial crisis since 2019, with triple-digit inflation and the domestic currency having lost more than 98% of its market value. ... Fox News. Flight ...
Lebanon's political landscape has been turned on its head since the Iran-backed Lebanese group Hezbollah, long a dominant player in Lebanese politics, was badly pummelled in last year's war with ...
The lira was the currency of Italy from its unification until it was merged into the euro in 1999. [2] A unit of currency lira had previously been used in some of the states and possessions that became Italy but their values were not necessarily equivalent.
Several European microstates outside the EU have adopted the euro as their currency. For EU sanctioning of this adoption, a monetary agreement must be concluded. Prior to the launch of the euro, agreements were reached with Monaco, San Marino, and Vatican City by EU member states (Italy in the case of San Marino and Vatican City, and France in the case of Monaco) allowing them to use the euro ...
Previously, the Lebanese capital had been largely untouched by the near-daily cross-border clashes that have displaced around 100,000 people from southern Lebanon and tens of thousands more in ...