Lebanon Says Needs $12-15bn to Kickstart Recovery

Date: 21 December 2021 - 21:39

News ID: ۹۸۰۰۶

BEIRUT (AFP) – Lebanon needs to receive 12 to 15 billion dollars to kickstart its economic recovery and shore up fast-diminishing foreign currency reserves, Central Bank Governor Riad Salameh said Tuesday. Lebanon is grappling with an unprecedented economic crisis branded by the World Bank as one of the planet’s worst in modern times. More than 80 percent of the population lives in poverty and the currency has lost more than 90 percent of its black market value amid political squabbling that has delayed an agreement with the International Monetary Fund. “Our quota in the International Monetary Fund is 4 billion,” Salameh said in an AFP interview.