A sign bearing the image of an older version of the 1,000 Lebanese lira note hangs in the entrance hall of the Bank of Lebanon's main building in Hamra. (Credit: Philippe Hage Boutros)
“Even if all possible efforts are made to dry up the sources of funding for Hezbollah, the results will necessarily remain incomplete as long as the cash economy continues to exist and Hezbollah can exploit it to finance its operations,” said a minister who closely followed the meetings held on Monday between the U.S. Treasury Department delegation visiting Beirut and several Lebanese officials.The World Bank estimated the size of the cash-based economy in 2022 at 45.7 percent of GDP, or the equivalent of $9.9 billion of the $21 billion in national wealth that year. However, for 2024, the Central Administration of Statistics estimated the GDP at around $31.6 billion. According to well-informed sources at the Economy and Trade Ministry, this means that the cash economy now exceeds $9.9 billion. More from Mounir 5 years on, debate over...
“Even if all possible efforts are made to dry up the sources of funding for Hezbollah, the results will necessarily remain incomplete as long as the cash economy continues to exist and Hezbollah can exploit it to finance its operations,” said a minister who closely followed the meetings held on Monday between the U.S. Treasury Department delegation visiting Beirut and several Lebanese officials.The World Bank estimated the size of the cash-based economy in 2022 at 45.7 percent of GDP, or the equivalent of $9.9 billion of the $21 billion in national wealth that year. However, for 2024, the Central Administration of Statistics estimated the GDP at around $31.6 billion. According to well-informed sources at the Economy and Trade Ministry, this means that the cash economy now exceeds $9.9 billion. More from Mounir 5 years on, debate...
Washington talks stall on 2nd day over 'pilot zones'