Lebanon is not the first .. 4 Arab countries suffer from the collapse of the currency

by **claud39** Wed Mar 03, 2021 1:33 pm

Lebanon is not the first .. 4 Arab countries suffer from the collapse of the currency

9 hours ago

Lebanon is not the first .. 4 Arab countries suffer from the collapse of the currency 1-1371588

[size=17]The inhabitants of 5 Arab countries, Syria, Lebanon, Iraq, Yemen and Sudan are under the influence of a gradual deterioration of the local currency against the dollar, which contributes to high commodity prices and threatens to starve and crush the poor classes.[/size]

On Tuesday, the Lebanese currency plunged to 10,000 pounds against one dollar , at an unprecedented level for the currency that was damaged by a financial collapse that caused chaos and turmoil.

The Syrian pound also recorded a new record deterioration in its value in the parallel market, reaching the threshold of four thousand against one dollar in a country where the conflict this month enters its tenth year.

For their part, Iraq and Sudan are trying to control the exchange rate of the dollar, without changing that from the poor living reality that was affected of course, as the dollar in Sudan recorded 376 pounds, while in Iraq it recorded 1462.5 dinars.

The floating of the Sudanese pound during the last two weeks caused a frightening deterioration in the exchange rate for the dollar during the past six months, from 150 pounds in August, until it reached 376 pounds on Wednesday, which led to a crazy rise in consumer goods prices , and this reflected on the lives of citizens and led many Demonstrations caused by high inflation.

In Iraq, the federal government decided at the end of 2020 to raise the value of the dollar against the Iraqi dinar from 1200 dinars per dollar to 1450, to cover the deficit in the 2021 budget that has not yet been approved.

The government decision from the Central Bank has contributed specifically to high prices, especially foodstuffs, as Iraq depends on imports to secure its goods.

As for Yemen, the Yemeni Prime Minister, Maeen Abdul Malik, warned that the continued collapse of his country's currency heralded a "famine", as the dollar recorded 250 Yemeni riyals.

Abdul-Malik reviewed with UN Secretary-General Antonio Guterres the difficult economic and humanitarian conditions Yemen is experiencing, and the urgent needs required to support the economy and stabilize the national currency, and warned that the continued collapse of the currency heralds the occurrence of a "famine". Efforts should be concerted to rectify it quickly.

https://www.skynewsarabia.com/business/1418992-%D9%84%D8%A8%D9%86%D8%A7%D9%86-%D9%84%D9%8A%D8%B3%D8%AA-%D8%A7%D9%84%D8%A7%D9%94%D9%88%D9%84%D9%89-4-%D8%AF%D9%88%D9%84-%D8%B9%D8%B1%D8%A8%D9%8A%D8%A9-%D8%AA%D8%B9%D8%A7%D9%86%D9%8A-%D8%A7%D9%86%D9%87%D9%8A%D8%A7%D8%B1-%D8%A7%D9%84%D8%B9%D9%85%D9%84%D8%A9