Comments on Lebanon’s currency in Reuters, 21 Apr 2020

The article titled “Lebanese depositors to get ‘market rate’ dollars in LBP -central bank“, published by Reuters on 21st April 2020 carried the below comments from Dr. Nasser Saidi.

 

Nasser Saidi, a former economy minister and ex-vice central bank governor, said the move was an effective formal devaluation in excess of 50% and represented the “lirasation” of deposits.
The step would lead to runaway inflation and impoverishment, he added. “Time for accountability for failed monetary & exchange rate policies,” he wrote on Twitter.

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