Emerging market investors are no strangers to sovereign debt crises, but few have been as perilous as the one facing Lebanon given a toxic combination of financial and political weaknesses and no obvious economic platform on which to build a recovery.
Lebanon’s gold reserves have been sitting idle behind the heavily fortified walls at both Fort Knox and the Central Bank for many decades as safety net that the country could use one day in the event it faced a severe economic crisis.
The Central Bank said Wednesday that it will supply commercial banks with foreign currency to finance the imports of basic needs and to finance the import of raw material for agro food industries.
Lebanese authorities must straighten their facts and accelerate reforms if the country is to receive aid on favorable terms from the IMF, the UN's most senior representative in Lebanon Jan Kubis said Wednesday as the government resumed its talks with the IMF.
The International Monetary Fund Wednesday underlined the importance of capital control in Lebanon and to ensure that the capital outflow is designated to...
As the IMF wades into Lebanon’s ongoing economic crisis, the country is aiming to become the sixth Arab state to receive assistance from the fund over the...
Moody’s international rating agency maintained their Ca rating for Lebanon after the government pledged to implement debt restructuring and seek IMF help, but...
Casino du Liban took the first step toward launching its online gambling services after asking international gaming companies to submit proposals to qualify...
In Iraq, a national lockdown to halt the coronavirus pandemic has found some unexpected fans: local businesses who no longer have to compete with Turkish,...
State-owned Kuwait Airways said Thursday it will lay off 1,500 expatriate employees due to "significant difficulties" caused by the coronavirus pandemic.
Job cuts by U.S. state and local governments whose budgets have been crushed fighting the COVID-19 pandemic and more second-wave layoffs in the private sector...
UN chief Antonio Guterres called Thursday for debt relief to be offered to all developing and middle-income countries amid the coronavirus pandemic and urged...
Lebanon’s Central Bank told the commercial banks Friday that it will provide them with hard currencies to finance the imports of basic food items and raw...
The giant real estate company Solidere makes a comeback to profitability after selling close to $500 million in properties over the past two years which...
The Association of Banks in Lebanon threw the ball in the government’s court when it presented a new approach to offset the argument of the Cabinet that the...
With the growing pressure Lebanon is facing amidst the health, social and economic crises, conflicts and differences have become more frequent and greater in...
The head of the Treasury Operations department at SGBL was released on bail Thursday after being taken into custody on suspicion of manipulating the dollar...
The Association of Banks in Lebanon said Wednesday that the government’s economic plan had many loopholes and expressed illingness to cooperate with the...
The head of the Association of Banks in Lebanon Salim Sfeir called on the government to pay all its dues to the lenders, stressing that the Lebanese banks are...
The state needs to play a vital role with the help of the Central Bank to restructure the banking sector through consolidation and capital increases, said...
The Lebanese pound dropped against the U.S. dollar on the parallel market Tuesday, after having risen slightly just a day prior.
A Lebanese prosecutor Monday charged a top Central Bank official with manipulating the exchange rate, a judicial source said as the country struggles with a...
First Abu Dhabi Bank (FAB) has put on hold discussions to acquire the Egyptian assets of Lebanon’s Bank Audi due to difficult market conditions, two sources...
Lebanon, whose currency has been pegged to the dollar for 23 years, is ready to float the pound only after it secures billions in aid, Finance Minister Ghazi...
The Central Bank’s financial watchdog denied Friday that there was a manipulation of dollar against the pound resulting from BDL’s transactions with the...
The International Monetary Fund told Lebanese officials that they have to come up with clear figures on the losses incurred by the Central Bank, a senior...
Lebanon’s government held its first official direct talks with the International Monetary Fund Wednesday to discuss the economic paper and seek financial...
The government’s rescue plan would choke the Lebanese economy for the next 20 years and decimate the banking sector, the Secretary General of the Association...
Lebanon will begin detailed discussions with the International Monetary Fund (IMF) on Wednesday, sources close to the government said, as Beirut seeks...
Bank of America expected the International Monetary Fund to require additional reform measures from the Lebanese government before assessing its request for...
Casino du Liban’s gross revenues have dropped by up to $40 million since the start of the coronavirus lockdown in the country, and the gaming center may be...
The audit of Lebanon's central bank accounts announced last month will include every transaction at the bank, Economy Minister Raoul Nehme said in an...
Lebanese authorities detained the head of the exchange dealers syndicate Mahmoud Mrad in a bid to end the manipulation of the dollar in the parallel market,...