Americans need to understand the Middle East
How much do we really know?

At The Media Line, we value all points of view and aim to mend our differences through fact-based narrative-inclusive journalism Help support our bold and brave team in Afghanistan, Gaza, Israel, Palestinian Territories, the UAE, and beyond.
Help us continue our work and provide access to the news that matters to you.

Thank you and best wishes to you and yours for this Jewish New Year.
 
Felice Friedson
Founder, President
Food Stores in Lebanon Shutter as Currency Crashes
Protestors block roads and burn tires during a demonstration in reaction to the record depreciation of the local currency and the current economic crisis, in Beirut, Lebanon on March 16, 2021. (Mahmut Geldi/Anadolu Agency via Getty Images)

Food Stores in Lebanon Shutter as Currency Crashes

Lebanon’s currency crashed to a new low forcing food stores to shut their doors or limit orders fearing that importers will not be able to obtain dollars to buy more food.

The currency crash on Tuesday came as protesters blocked roads and burned tires in Beirut in protest against the record depreciation of the local currency and the current economic crisis.

Lebanon is largely reliant on food imports.

The Lebanese pound fell to 15,000 to the dollar on Tuesday, meaning that it had lost one-third of its value in the last two weeks. It has now fallen by 90% since late 2019, Reuters reported.

On Wednesday, international air organizations agreed to hand out assistance in dollars, Reuters reported.

Give the Gift of Trusted News!

Dear friends,

The Media Line is always there to report to you the stories and issues of the Middle East – completely and in context: TML is the source you can trust.

Know The Media Line to Know The Middle East!

Please support our ad-free, nonprofit news agency. Our seasoned journalists reporting from the Middle East are working day and night during these challenging, yet defining times; and our student interns are honing their knowledge and skills, preparing to emerge as tomorrow’s journalists.

You rely on us and we’re relying on you! Make your online tax-deductible donation here and contact us regarding donations through appreciated stock, donor advised funds, qualifying IRA distributions and other charitable instruments.

Thank you for confidence in The Media Line.
 
Felice Friedson
Founder, President

Invest in the
Trusted Mideast
News source.
We are on the
front lines.

Personalize Your News
Upgrade your experience by choosing the categories that matter most to you.
Click on the icon to add the category to your Personalize news
Browse Categories and Topics
Wake up to the Trusted Mideast News source Mideast Daily News Email
By subscribing, you agree to The Media Line terms of use and privacy policy.
Wake up to the Trusted Mideast News source Mideast Daily News Email
By subscribing, you agree to The Media Line terms of use and privacy policy.