Oil-rich Iraq, its economy hobbled by neglect and corruption, has devalued its currency and had its imported electricity cut off for nonpayment.
Tag: Currency
Lockdown Gardening in Britain Leads to Archaeological Discoveries
The finds this year, including a cache of gold coins from the reign of Henry VIII, come as Britain considers expanding the law to protect a broader range of artifacts from its centuries-old history.
Turkey’s Finance Minister Resigns Amid Pressures of Sliding Economy
President Recep Tayyip Erdogan’s son-in-law, who is known for his ties to the Trump White House, said he was quitting as Turkey’s lira tumbles and its economy worsens.
Bartering Child’s Dress for Food: Life in Lebanon’s Economic Crisis
A TV chef abandons unaffordable beef. Blackouts make for sweltering summer nights. Changing money feels like a drug deal: The financial meltdown means daily pain and a blow to a country’s pride.
Our Cash-Free Future Is Getting Closer
The pandemic is propelling a shift toward a cashless society in ways that no other single event has. Experts say that’s not necessarily a good thing.
Lebanon’s Currency Plunges, and Protesters Surge Into Streets
Demonstrations broke out across the country after the pound sank to a new low against the U.S. dollar, obliterating the purchasing power of many Lebanese.
Lebanon’s Economic Crisis Explodes, Threatening Decades of Prosperity
Bad planning, corruption and the sudden shock of a pandemic have caused the Lebanese currency to crash and consumer prices to jump. Hunger looms.
With Inflation Ravaging Currency, Iran Is Changing Names and Numbers
The rial unit of currency, which has lost much of its value against the dollar, will be replaced by the toman, which the government says will be worth 10,000 rials.
West African Countries Take a Step Away From Colonial-Era Currency
A bloc of eight countries will rename their French-backed currency and France will scrap a contentious requirement for reserve deposits.
Economic Crisis Looms as Protests Rage in Lebanon
After a monthlong political crisis, Lebanon faces an economic one, too, as the effects of long-term policies crash into citizens’ lives.