Protesters in Lebanon clash with police over bad economic conditions
Al Jazeera | January 28, 2021
Dr. Patrick Mardini explained that today with the loss of confidence in the monetary authority and in the political class, people lost confidence in their lebanese pound which resulted in a massive devaluation of the lebanese pound.
He also stated that the reason behind the meltdown of the purchasing power of the lebanese population is due to the government's continuation in spending alot of money without having enough income to finance them, therefore they have been monetarizing their debt deficit through printing money.
Dr. Mardini's interview with Al Jazeera on January 28, 2021