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It usually happens when the foreign exchange reserves are depleted

A host of countries in the Middle East, EU, and US have placed restrictions on imports from Lebanon to force them to seek IMF administration. It is another form of war. When they can't earn reserves from exports, they have to print money to support the economy and buy imports. Venezuela was a recent example where their oil exports were under sanctions. Lebanon and Syria are highly sought after by their neighbors because of the large offshore gas reserves in the Meditteranean.
[Post edited by lchoro at 02/14/2022 12:15PM]

(In response to this post by Coach McGuirk)

Posted: 02/14/2022 at 11:10AM

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Current Thread:

Lebanon to devalue currency by 93% -- Coach McGuirk 02/14/2022 10:55AM

Its like looking into the future... ** -- HokieNoVA 02/14/2022 1:14PM

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Frank Rizzo says "Pounds baby, pounds! " ** -- NokieHokie 02/14/2022 12:58PM

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TTBOMK I didn't mention China, neither did you. Devaluing currency can be -- Mighty Fine Catch 02/14/2022 2:46PM

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Well that's depressing. ** -- BobG 02/14/2022 11:30AM

It usually happens when the foreign exchange reserves are depleted -- lchoro 02/14/2022 11:10AM

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