Lebanon called for declaration of financial emergency


The Speaker of the Lebanese Parliament, Nabi Berry, called on the Government and the central bank to impose a financial emergency in the country. This was reported on June 24 by Al Arabia. The reason for the call was a sharp drop in the exchange rate of the Lebanese pound, which has lost about 75% of its value since October 2019. Berry, in a comment to the agency, also emphasized that you should not wait for financial assistance from the International Monetary Fund (IMF) until the country carries out appropriate reforms. Recall that in October 2019, the largest financial crisis in recent years broke out in Lebanon, accompanied by mass protests that led to the resignation of the government.

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