A closer look into Lebanon’s fixed currency
Lebanon's fixed exchange rate has been a pillar of stability for two decades. However, poor economic conditions threaten its sustainability.
BEIRUT — Lebanon declared an economic emergency Sept. 2 following a downgrade from two of the three major credit rating agencies and slowed GDP growth — 0% according to the credit rating agency Fitch.
These precarious economic conditions have raised concern over the country's ability to maintain one of its most successful monetary policies: the fixed exchange rate between the Lebanese pound and US dollar.
