Thursday, 1st June 2023
<To guardian.ng
Search

Lebanon: Dollars shield some from hyperinflation crisis

The Lebanese currency has lost up to 90% of its value, and prices are soaring. Most Lebanese are fighting a daily battle for survival and only a few profit from the skyrocketing exchange rates for the US dollar.

Related

19 Feb
Nigerian politicians traditionally give voters cash in return for their votes. New regulations and a cash crunch now means that they are unlikely to have large sums of cash to disburse before the elections. This is the focus of this week's episode of DW Africa's The Flip Side series.
23 Feb
Protesters smashed windows of banks in the Lebanese capital Beirut this past week as the currency hit a new low against the dollar. The Lebanese lira has lost about 97 percent of its value, and more than 80 percent of the population live below the poverty line. Millions of people are struggling to make ends meet amid the financial turmoil.
5 Mar
Will ski resorts survive climate change? It's a question many in the Alps and in mountainous areas around the world are asking. Warmer temperatures, less snow in the winter and melting glaciers all mean that ski resorts are looking at new ways of attracting tourists. Recently some 200 professional skiers, including US star Mikaela Shiffrin, published an open letter to the International Ski Federation, warning that their sport is in danger.
11 Mar
As their country sinks deeper into a financial crisis, more Lebanese people depend on money sent by relatives living abroad to survive. Remittances sent by the Lebanese diaspora, one of the largest in the world, partly explain why Lebanon has not yet descended into social chaos or full-scale revolt, despite the country suffering from what the World Bank calls one of the worst financial crises since the mid-19th century.
12 Mar
Khartoum's yellow taxi, once a famous transportation landmark of the Sudanese capital, is struggling to survive amid a crushing economic crisis and political instability in the country.
10 Mar
Find these stories and much more when you grab a copy of The Guardian on Friday.⁣
13 Mar
Thousands of people, especially farmers, are killed every year after being bitten by venomous snakes in India. But little attention is given to treating this "poor man's disease."
14 Mar
The oil-rich US state of North Dakota is seeing an uptick in drilling due to the energy crisis. Wary of sustainable alternatives, locals hope the crisis will provide a long-term boost to the oil industry and the jobs that depend on it.
16 Mar
Shares in global investment bank Credit Suisse fell sharply on Wednesday sending shares plunging in other European banks.
26 Mar
People residing in and around the Sundarbans — the world's largest mangrove forest — are being forced to spend their meager incomes on buying drinking water as climate change and local policies exhaust their options.
18 Mar
French President Emmanuel Macron is trying to push through a pension reform without a parliamentary vote. That has triggered a political crisis ― and could help the far right.
20 Mar
One in two young people in South Africa are unemployed while more than 1.2 million graduates are without jobs in Uganda. More own initiatives could ease unemployment in Africa, experts say.