Details
-
The economic situation in Lebanon has been dire for many years, but it took a turn for the worse in just before October 17 2019, when the value of the Lebanese Lira seriously depreciated. This has had a devastating impact on the country and its people, as the cost of living has soared and many people have struggled to make ends meet. Prior to the economic crisis, the exchange rate between the US dollar and the Lebanese Lira had been stable, with $1 equal to 1500L.L for many years. However, since the crisis began, the value of the Lebanese Lira against the US dollar has significantly depreciated, as reported by numerous international economic and monetary institutions. In order to survive, some people have been forced to sell their land, including natural land, just to keep up with the cost of living. This has had a negative impact on the environment and has also contributed to the erosion of the country's natural beauty. The economic crisis in Lebanon has had far-reaching consequences and has left many people struggling to get by.
-
Note: The situation in Lebanon is constantly evolving and the information provided above regarding the depreciation of the Lebanese Lira is subject to change as the situation may likely worsen.