Roots of Lebanon's financial crisis
Aug 18, 2020 ·
1h 4m 34s
18 August 2020 Lebanon is facing its worst financial crisis since independence. The government has defaulted on its ballooning public debt, high inflation is the new norm, much needed US...
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18 August 2020
Lebanon is facing its worst financial crisis since independence. The government has defaulted on its ballooning public debt, high inflation is the new norm, much needed US dollars are in shortage, and thousands of bank account holders are denied their right to withdraw money. The central bank is accused of hiding real losses and appeasing rather than holding politicians and bankers accountable. New US sanctions are adding fuel to the fire of instability.
How did a country that prided itself for its financial stability and a highly performing banking sector find itself in such a quagmire? This webinar will look at the roots of the crisis that run deep in the country’s history, including the role of its banking lobby in the formation of its central bank and management of the currency crisis.
show less
Lebanon is facing its worst financial crisis since independence. The government has defaulted on its ballooning public debt, high inflation is the new norm, much needed US dollars are in shortage, and thousands of bank account holders are denied their right to withdraw money. The central bank is accused of hiding real losses and appeasing rather than holding politicians and bankers accountable. New US sanctions are adding fuel to the fire of instability.
How did a country that prided itself for its financial stability and a highly performing banking sector find itself in such a quagmire? This webinar will look at the roots of the crisis that run deep in the country’s history, including the role of its banking lobby in the formation of its central bank and management of the currency crisis.
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