I am not an economist by any stretch of the word. And for a long time, I had no clue about basic economic subjects, everyday stuff really. Like where do banks get the money to remunerate my saving account. Or what is backing up the currency I use everyday, what is it that gives it value.... Continue Reading →
A proxy to the rather opaque USD/LBP unofficial rate
In the aftermath of the default of the Lebanese government on its debt on March 19th in 2020, the Lebanese pound reached abysmal lows versus the US dollar. Up to that point, the Lebanese government, or more precisely the Banque du Liban, had always followed a policy of strict pegging of the local currency to the... Continue Reading →
