Hyperinflation and Currency Reform in Lebanon
Park View- Hanke | August 20, 2020
Steve Hanke, Professor of Applied Economics at Johns Hopkins University, explained that Lebanon became the first country to enter hyperinflation in the region. Professor Hanke warned that Lebanon's inflation levels reached 413% per year.
He pointed out that the epicenter of the crisis is the currency crisis, which means it is essential to directly address this problem before all other crisis currently happening in Lebanon.
As a result, Prof. Hanke suggested creating a currency board, which would quickly stop inflation and allow officials to focus on solving other problems.