Berri urges review of steps to protect Lebanon’s collapsing currency


Lebanon’s parliament speaker Nabih Berri said on Wednesday the government, central bank and commercial banks should declare a “state of financial emergency” and review all steps to protect the collapsing Lebanese currency. 

Berri also said Lebanon would not get a penny from the International Monetary Fund or any donor state unless it carried out reforms, at the forefront of them accelerating fixing the loss-making electricity sector.

Pound collapses again 

On the eve of Baabda meeting the Lebanese pound hit 6900 LL to the US dollar according to media reports .

The Lebanese pound which was pegged at 1507.5 LL to the US dollar has lost over 75 % of its value and over 80 % of its purchasing power due to hyper inflation