Daily Sabah logo

Politics
Diplomacy Legislation War On Terror EU Affairs Elections News Analysis
TÜRKİYE
Istanbul Education Investigations Minorities Expat Corner Diaspora
World
Mid-East Europe Americas Asia Pacific Africa Syrian Crisis Islamophobia
Business
Automotive Economy Energy Finance Tourism Tech Defense Transportation News Analysis
Lifestyle
Health Environment Travel Food Fashion Science Religion History Feature Expat Corner
Arts
Cinema Music Events Portrait Reviews Performing Arts
Sports
Football Basketball Motorsports Tennis
Opinion
Columns Op-Ed Reader's Corner Editorial
PHOTO GALLERY
JOBS ABOUT US RSS PRIVACY CONTACT US
© Turkuvaz Haberleşme ve Yayıncılık 2023

Daily Sabah logo

عربي
  • Politics
    • Diplomacy
    • Legislation
    • War On Terror
    • EU Affairs
    • Elections
    • News Analysis
  • TÜRKİYE
    • Istanbul
    • Education
    • Investigations
    • Minorities
    • Expat Corner
    • Diaspora
  • World
    • Mid-East
    • Europe
    • Americas
    • Asia Pacific
    • Africa
    • Syrian Crisis
    • Islamophobia
  • Business
    • Automotive
    • Economy
    • Energy
    • Finance
    • Tourism
    • Tech
    • Defense
    • Transportation
    • News Analysis
  • Lifestyle
    • Health
    • Environment
    • Travel
    • Food
    • Fashion
    • Science
    • Religion
    • History
    • Feature
    • Expat Corner
  • Arts
    • Cinema
    • Music
    • Events
    • Portrait
    • Reviews
    • Performing Arts
  • Sports
    • Football
    • Basketball
    • Motorsports
    • Tennis
  • Gallery
  • Opinion
    • Columns
    • Op-Ed
    • Reader's Corner
    • Editorial
  • TV
  • Business
  • Automotive
  • Economy
  • Energy
  • Finance
  • Tourism
  • Tech
  • Defense
  • Transportation
  • News Analysis

IMF to allocate $1.135B in SDRs to crisis hit-Lebanon

by REUTERS

BEIRUT Sep 13, 2021 - 12:39 pm GMT+3
Motorcycle drivers wait to get fuel at a gas station in Beirut, Lebanon, Aug. 31, 2021. (AP Photo)
Motorcycle drivers wait to get fuel at a gas station in Beirut, Lebanon, Aug. 31, 2021. (AP Photo)
by REUTERS Sep 13, 2021 12:39 pm

Lebanon’s central bank will receive $1.135 billion on Sept. 16 in International Monetary Fund (IMF) Special Drawing Rights (SDRs), the nation’s finance ministry said Monday.

The fund is much needed as the country struggles with one of the deepest depressions in modern history.

The new allocation of the IMF's reserve currency is comprised of $860 million from 2021 and $275 million from 2009, a statement by the ministry said.

Lebanon is in the throes of a deep financial crisis that has propelled three quarters of its population into poverty. Its central bank has all but run down its reserves.

The depletion of foreign currency has translated into worsening shortages of basic goods such as fuel and medication in the past couple of months.

After a year of political deadlock, Lebanese leaders finally agreed on a new government on Friday, opening the way for a resumption of talks with the IMF.

  • shortlink copied
  • RELATED TOPICS
    fight-against-terrorism DEUTSCHE-BANK US-LIBYA-RELATIONS
    KEYWORDS
    lebanon financial crisis imf special drawing rights
    The Daily Sabah Newsletter
    Keep up to date with what’s happening in Turkey, it’s region and the world.
    You can unsubscribe at any time. By signing up you are agreeing to our Terms of Use and Privacy Policy. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
    A view of the rubble of a building hit by the earthquake in Pazarcık, Kahramanmaraş, Feb. 6, 2023. (AA Photo)

    Death toll rises to 3,549 after magnitude 7.7 quake rocks SE Türkiye

    EARTHQUAKE
    Dark smoke rises after a fire broke out among containers toppled at a major port in the Mediterranean coastal city of Iskenderun following an earthquake, southern Türkiye, Jan. 6, 2023. (AA Photo)

    Deadly quake damages Türkiye's energy infrastructure, major port

    earthquake

    Want to help earthquake victims in Türkiye? Here's how 

    earthquake-in-türkiye

    Earthquakes in Türkiye moved Anatolia up to 10 meters: Seismologist

    türkiye
    No Image
    India, Pakistan mark 75 years of independence
    PHOTOGALLERY
    • POLITICS
    • Diplomacy
    • Legislation
    • War On Terror
    • EU Affairs
    • News Analysis
    • TÜRKİYE
    • Istanbul
    • Education
    • Investigations
    • Minorities
    • Diaspora
    • World
    • Mid-East
    • Europe
    • Americas
    • Asia Pacific
    • Africa
    • Syrian Crisis
    • İslamophobia
    • Business
    • Automotive
    • Economy
    • Energy
    • Finance
    • Tourism
    • Tech
    • Defense
    • Transportation
    • News Analysis
    • Lifestyle
    • Health
    • Environment
    • Travel
    • Food
    • Fashion
    • Science
    • Religion
    • History
    • Feature
    • Expat Corner
    • Arts
    • Cinema
    • Music
    • Events
    • Portrait
    • Performing Arts
    • Reviews
    • Sports
    • Football
    • Basketball
    • Motorsports
    • Tennis
    • Opinion
    • Columns
    • Op-Ed
    • Reader's Corner
    • Editorial
    • Photo gallery
    • Jobs
    • privacy
    • about us
    • contact us
    • RSS
    © Turkuvaz Haberleşme ve Yayıncılık 2021