Annual inflation in Lebanon has reached 462 percent … the dollar may reach 20,000 pounds
MTV- Hanke | July 23, 2020
The Professor of Applied Economics at Johns Hopkins University, Steve Hanke, explained that Lebanon has officially entered the field of hyperinflation, and announced that inflation has exceeded 50 percent over a period of 30 days. Lebanon is the first country in the MENA region to suffer from hyperinflation.
Hanke revealed that the annual inflation rate in Lebanon reached 462 percent yesterday, and it is believed that the current crisis is much worse than it was during the civil war.
Hanke asserted that the Lebanese government should propose the currency board system as the centerpiece for any reform plan in order to solve the currency crisis.