It will take more than a change in the exchange rate to pull Lebanon out of its deep crisis
The Lebanese currency has been pegged to the US dollar at the rate of 1,507.5 Lebanese Pounds (LBP) to the dollar since 1997. The Ministry of Finance was due to revise the official exchange rate to 15,000 LBP tomorrow (November 1). The change represents one of the conditions the International Monetary Fund (IMF) has planned …