The official exchange rate at LL15,000 from next February BDL expects economic growth this year Starting next February, the official exchange rate will be devalued from LL1,507 to LL15,000 to the US dollar, according to Riad Salameh, Governor of the Central Bank (BDL). Dollars withdrawn by depositors from their bank accounts will be paid in […]
The International Monetary Fund (IMF) has reached a ‘staff-level agreement’ with the government for a four-year ‘Extended Fund Facility’ that would only get full approval from the fund after a series of reforms is enacted. The IMF said in a statement that the Lebanese government, with IMF staff support, has formulated a comprehensive economic reform […]
$500 million fund to lend local businesses – To be established by Palladium, Bamboo Capital, and Cedar Oxygen A group of private Lebanese investors, made up of Palladium and its asset management arm Bamboo Capital Partners in addition to Cedar Oxygen, have entered into a strategic partnership to develop a $500 million fund. The Lebanon Economic Empowerment […]
Climbing mortgage rates hit already high home prices CNBC’s Diana Olick reports on what the gain in home prices and inflation fears mean for the housing market.
The US Government Is Auctioning $377K Worth of Bitcoin and Litecoin The U.S. government is selling bitcoin and litecoin worth $377K via the General Services Administration (GSA). The auction closes at 5 p.m. on Monday, with the possibility of an extended closing time. The government auction house is selling the digital assets in 11 lots […]