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BREAKDOWN: When Currencies Fail... A Primer on the Dollar Crisis in Lebanon
BREAKDOWN: When Currencies Fail... A Primer on the Dollar Crisis in Lebanon
ratings:
Length:
23 minutes
Released:
Apr 29, 2020
Format:
Podcast episode
Description
The Lebanese pound has lost at least 50% of its value against the dollar since last year. 220,000 people have lost their jobs. Food prices are up 58%. An estimated 75% of the population needs assistance of some kind. And over the last two nights, at least a dozen banks have been torched by protesters. The catalyst? Not coronavirus, but a massive dollar shortage that is destroying an economy that relies on inflows of US dollars to function.In this episode, NLW breaks down how Lebanon models what it looks like for a currency to fail, and why this likely isn’t the last emerging market currency to experience a similar crisis in the months to come. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Released:
Apr 29, 2020
Format:
Podcast episode
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