Daily Memo: IMF Warnings, Japanese Defenses
Lebanon's central bank has reportedly accumulated $49 billion in losses.
Lebanon’s economic woes. The International Monetary Fund has warned that Lebanon’s central bank has accumulated $49 billion in losses due to defaults on bond holdings and the falling value of the country’s currency. The country appears headed toward hyperinflation; in some areas of Lebanon, the Lebanese currency is now trading at 7,000 lira to the […]