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Lebanon

New withdrawal caps at the banks and the struggle over the Eurobond decision

03 - 04 February 2020

Major banks in Lebanon begin tightening capital controls, halving the amount of US-dollars depositors are allowed to withdraw every month, despite growing public anger. Due to a dollar liquidity crisis, banks have imposed informal controls on dollar withdrawals and transfers abroad since September. In light of this liquidity crisis, Lebanon’s authorities are struggling to decide what to do about a $1.2 billion Eurobond maturing in March.

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