LIMS conducted a series of meetings on how a currency board can be a suitable solution to save the Lebanese pound. The presentations relied on the experience of Argentina, Estonia, Bulgaria, and Lithuania showing how a currency board in those countries immediately stopped the devaluation of currency and stabilized prices. A distinction was established between dollar deposits at commercial banks and the central bank’s Lebanese pound liabilities. Lebanon has enough foreign exchange reserves to establish a currency board at a reasonable exchange rate. Concerns related to the current account deficit and fiscal deficit were also addressed. LIMS explained how under a currency board monetary authorities expend money supply given the increase in foreign exchange reserves.
Meetings included:
-The National block party on October 7, 2021
-Sabaa party on September 13, 2021
-Adyan Foundation on July 30, 2021
-University of Balamand on June 23, 2021
-Arab Open University on April 29, 2021
-Estichariya on March 15, 2021