The latest official data showed that the inflation rate in Lebanon jumped to 112.4% on an annual basis last July, amid an economic collapse, even before the devastating explosion that struck the port of Beirut in Earlier this month exacerbated a deep financial crisis.
According to Reuters, and according to Professor Steve Hankey, Professor of Applied Economics at Johns Hopkins University, Lebanon became the first country in the region to suffer from hyperinflation last July.
p>
and figures from the government statistics administration showed that inflation in Lebanon, whose plight has worsened since it defaulted on a sovereign debt in March, rose to 89.74% year on year in Last June, from 56.53% in the previous May.
The CPI rose 11.42% in July compared to the previous month.
and an official Lebanese source said last week that the Central Bank of Lebanon can support fuel, wheat and medicine for only 3 months, with the continued dwindling of foreign exchange reserves, which have already decreased to critical levels. .
Bank of Lebanon governor Riad Salameh said in comments last Tuesday that the central bank cannot use its reserve requirement to finance trade once it reaches the minimum.
and the talks with the International Monetary Fund about a financial rescue are stalled due to the lack of progress towards reforms demanded by Lebanon's long-standing creditors to overcome entrenched corruption, mismanagement and an internal dispute over the size of Huge financial losses.
(Amazon Fun Knowledge)
