Bad planning, corruption and the sudden shock of a pandemic have caused the Lebanese currency to crash and consumer prices to jump. Hunger looms.
Tag: Currency
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.
Brexit Coins Head for Scrap Heap After Deadline Is Extended
The 50-pence pieces emblazoned with “Oct. 31, 2019” will be recycled. (So will those with “March 29.”)
Argentina Restricts Access to Foreign Currency to Stave Off Financial Crisis
The imposition of currency controls is a remarkable about-face for Argentina’s president, who was elected on the promise of liberalizing the economy.
‘Weaponized’ Currency and Mining Limits: China’s Responses to Trump Take Shape
Beijing’s signals suggest it is ready to retaliate should the White House follow through on its new tariff threat, with potentially disruptive results.
Circulating in China’s Financial System: More Than $200 Billion in I.O.U.s
As the trade war escalates, Beijing needs private companies to pull China’s economy out of its rut. But for some, ready money can be hard to find.
How Does China’s Currency Move Put Pressure on U.S.?
A weaker renminbi blunts President Trump’s tariffs on Chinese-made goods. But the strategy carries risks beyond worsening relations with the United States.
For Erdogan, the Bill for Turkey’s Debt-Fueled Growth Comes Due
Istanbul voters’ rebuke of the nation’s strongman leader speaks to broader dismay over the economic disaster he oversaw.