Two people counting LL100,000 and $100 USD bills. (Credit: APF).
BEIRUT — After four years of economic turmoil and endless roller coasters, the Lebanese lira has finally experienced a year of stability, hovering around LL89,500-to-the-dollar since caretaker central bank governor Wissam Mansouri took office in August 2023.However, in its latest report released on Aug. 19, Standard and Poor’s (S&P) also put forward forecasts that suggest the lira may be headed toward another round of fluctuations — and an eventual depreciation, again. The credit rating agency projects the lira’s value to drop down to LL 92,000 to the dollar by the end of 2024, and reach a rate of LL151,984 to the dollar by 2027. Contacted, S&P’s analytical team explained via email that the data projections for Lebanon were based on their expectations of “no significant changes in policymaking in the near future, and large...
BEIRUT — After four years of economic turmoil and endless roller coasters, the Lebanese lira has finally experienced a year of stability, hovering around LL89,500-to-the-dollar since caretaker central bank governor Wissam Mansouri took office in August 2023.However, in its latest report released on Aug. 19, Standard and Poor’s (S&P) also put forward forecasts that suggest the lira may be headed toward another round of fluctuations — and an eventual depreciation, again. The credit rating agency projects the lira’s value to drop down to LL 92,000 to the dollar by the end of 2024, and reach a rate of LL151,984 to the dollar by 2027. Contacted, S&P’s analytical team explained via email that the data projections for Lebanon were based on their expectations of “no significant changes in policymaking in the near future, and...
