The State of the Lebanese Pound

agnostic

Legendary Member
it's more like Lebanon's savior duo right here:

EiCPq92XkAAEZH6
Beside SHN Nabih is nakra. So sorry you can't call it duo.
 

LEBANESE-CIA

Legendary Member
What is the withdrawal amount of lebanese Lira per month nowadays in Lebanese banks? anyone had a recent experience?
 

Bandar

Well-Known Member
Orange Room Supporter
Where is the breaking point for the LBP?

What we see with other cases like Venezuela is that it hits a certain point then the decline is exponential, the currency is essentially destroyed and useless.

I don't think we can handle further than 20,000LL / $dollar. at that point confidence in the government and banks will be totally bust and the currency will become useless.
 

Danny Z

Legendary Member
Where is the breaking point for the LBP?

What we see with other cases like Venezuela is that it hits a certain point then the decline is exponential, the currency is essentially destroyed and useless.

I don't think we can handle further than 20,000LL / $dollar. at that point confidence in the government and banks will be totally bust and the currency will become useless.
There is no breaking point, when nobody in the world wants a lebanese lira to give you foreign currency against it. You need to export to get foreign currency. Also you want foreign currency to import so as the demand for $ will keep growing as the central bank runs out of foreign currency.

Once Lebanon decides to export or gets something to export and companies start finding it intersting to hire people in Lebanon at cheaper labor rates than India (call centers, some easy manufacturing, like T-Shirts, maybe Lebanese will go work as maids in Sri Lanka and Philipines and bring USD) few $ start floating in then you might get stabilization or at elast less faster degradation
Another option is to get an aid from the World bank against selling some govenment assets and that will buy sometimes to get some funds to build exporting capacity, but do not expect it will stabilize just without anything changing it will just get worse with time.
 

Bandar

Well-Known Member
Orange Room Supporter
There is no breaking point, when nobody in the world wants a lebanese lira to give you foreign currency against it. You need to export to get foreign currency. Also you want foreign currency to import so as the demand for $ will keep growing as the central bank runs out of foreign currency.

Once Lebanon decides to export or gets something to export and companies start finding it intersting to hire people in Lebanon at cheaper labor rates than India (call centers, some easy manufacturing, like T-Shirts, maybe Lebanese will go work as maids in Sri Lanka and Philipines and bring USD) few $ start floating in then you might get stabilization or at elast less faster degradation
Another option is to get an aid from the World bank against selling some govenment assets and that will buy sometimes to get some funds to build exporting capacity, but do not expect it will stabilize just without anything changing it will just get worse with time.
what about selling the offshore oil deposits to a foreign oil company?

will the lebanese people accept a complete collapse of the economy while doing nothing? sad.
 

Danny Z

Legendary Member
what about selling the offshore oil deposits to a foreign oil company?

will the lebanese people accept a complete collapse of the economy while doing nothing? sad.
Crédit Libanais bank once estimated the O&G reserve to $90 billion. Of course it varies with the price of the baril

The GDP was estimated $54.1 billion in 2018, Government spending amounted to $15.9 billion in 2018, or 23% of GDP. The whole oil thing can buy you few years of wasting time. The Lebanese have already wasted a year and half and no oil or gas has been extracted yet.
 

JustLeb

Legendary Member
Orange Room Supporter
 

JustLeb

Legendary Member
Orange Room Supporter
Eh what are you going to do about it?
Here is my doctrine, if you don't mind.
If a Lebanese lambda, went to the bank and asked to withdraw some of the dollars in the bank account, and he got them.
Would this have happened ???
Since May 2019, people started to feel that they are not able to get $$ easily...
Where were you then ??
What did you do to avert this crisis??

7alaya 7kina, w 7otaynat tweet ye3ni ??!!
 
Eh what are you going to do about it?
Here is my doctrine, if you don't mind.
If a Lebanese lambda, went to the bank and asked to withdraw some of the dollars in the bank account, and he got them.
Would this have happened ???
Since May 2019, people started to feel that they are not able to get $$ easily...
Where were you then ??
What did you do to avert this crisis??

7alaya 7kina, w 7otaynat tweet ye3ni ??!!

Bro, khalli hayda bi his conspiracy world taba3o, 3ayesh bi kawkab tene.
 

JustLeb

Legendary Member
Orange Room Supporter
Bro, khalli hayda bi his conspiracy world taba3o, 3ayesh bi kawkab tene.
I am trying to make him see the other aspect of the crisis.
But apparently, he hates me too much that he does not reply even to my PM.
The best he can do, is accusing me to be working at MBS(Abou Menshar ye3ni) :lol: :lol: :lol: :lol: :lol:
 

Walidos

Legendary Member
Orange Room Supporter
There is no breaking point, when nobody in the world wants a lebanese lira to give you foreign currency against it. You need to export to get foreign currency. Also you want foreign currency to import so as the demand for $ will keep growing as the central bank runs out of foreign currency.

Once Lebanon decides to export or gets something to export and companies start finding it intersting to hire people in Lebanon at cheaper labor rates than India (call centers, some easy manufacturing, like T-Shirts, maybe Lebanese will go work as maids in Sri Lanka and Philipines and bring USD) few $ start floating in then you might get stabilization or at elast less faster degradation
Another option is to get an aid from the World bank against selling some govenment assets and that will buy sometimes to get some funds to build exporting capacity, but do not expect it will stabilize just without anything changing it will just get worse with time.
That’s far too advanced, step 1, people get back to work in lebanon rather than thawra ans closing roads... baby steps :)
 

Walidos

Legendary Member
Orange Room Supporter
I am trying to make him see the other aspect of the crisis.
But apparently, he hates me too much that he does not reply even to my PM.
The best he can do, is accusing me to be working at MBS(Abou Menshar ye3ni) :lol: :lol: :lol: :lol: :lol:
Halla2 on a serious note, the devaluation is far too excessive I think... those platforms calling the price, how are they regulated?
 
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