Economics
Lebanon Fences Off More of Its Economy Against Currency Crisis
- Central bank fixes food import rate to control inflation
- Government is in talks with the IMF for a $10 billion bailout
People crowd the entrance to a local bakery to purchase bread in Beirut, Lebanon.
Photographer: Hasan Shaaban/BloombergThis article is for subscribers only.
Follow us @middleeast for more news on the region.
Lebanon is seeking to protect more of its economy from the dramatic depreciation in the local currency, fixing a subsidized exchange rate for imported food after deeming a wholesale abandonment of the decades-old peg too costly for now.