Tourism Ministry building in Hamra, Jan. 30, 2025. (Credit: Philippe Hage Boutros/L'Orient Today)
Tourism Minister Laura al-Khazen Lahoud Lahoud on Friday decided to cancel a measure enacted nearly four years ago by her predecessor Walid Nassar, that allowed tourism establishments to display their prices in dollars. The sector was immediately caught off guard regarding the implications of this decision.Nassar implemented this measure on June 2, 2022, at a time when the exchange rate between the Lebanese lira (LL) and the dollar on the market was completely unstable, coexisting with other rates imposed by the Banque du Liban (BDL, central bank) for dollar withdrawals, and when the official rate was still in place. Dig deeper World Bank puts Lebanon’s 2025 growth at 3.5 %, warns of a fragile rebound The goal was to restore a level of transparency in the sector ahead of the first post-COVID tourist season. The measure was...
Tourism Minister Laura al-Khazen Lahoud Lahoud on Friday decided to cancel a measure enacted nearly four years ago by her predecessor Walid Nassar, that allowed tourism establishments to display their prices in dollars. The sector was immediately caught off guard regarding the implications of this decision.Nassar implemented this measure on June 2, 2022, at a time when the exchange rate between the Lebanese lira (LL) and the dollar on the market was completely unstable, coexisting with other rates imposed by the Banque du Liban (BDL, central bank) for dollar withdrawals, and when the official rate was still in place. Dig deeper World Bank puts Lebanon’s 2025 growth at 3.5 %, warns of a fragile rebound The goal was to restore a level of transparency in the sector ahead of the first post-COVID tourist season. The measure...
Lebanese Army gradually deploys in Dibbin as Israeli troops withdraw