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The diverging pound: Lessons from Bulgaria's 1990s crisis and a call for a currency board in contemporary Lebanon

Author

Listed:
  • Ambika KANDASAMY

    (Lebanon)

Abstract

Lebanon is currently facing a financial crisis marked by rising inflation rates and a black-market exchange rate that is significantly diverging day-by-day from the official exchange rate. In this paper, the author dives into Lebanon’s financial history and what actions undertaken by the government since the civil war have led to this crisis. After a thorough examination of the current economy, the author compares Lebanon’s present day financial crisis to the one faced by Bulgaria in the 1990s and concludes that the implementation of a currency board is a viable solution for restoring the strength of the Lebanese pound and ushering in financial stability.

Suggested Citation

  • Ambika KANDASAMY, 2025. "The diverging pound: Lessons from Bulgaria's 1990s crisis and a call for a currency board in contemporary Lebanon," Journal of Economics Library, EconSciences Journals, vol. 12(3), pages 148-158, September.
    • Handle: RePEc:cvv:journ5:v:12:y:2025:i:3:p:148-158
    as

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    References listed on IDEAS

    as
    1. Harvie, Charles & Saleh, Ali Salman, 2008. "Lebanon's economic reconstruction after the war: A bridge too far?," Journal of Policy Modeling, Elsevier, vol. 30(5), pages 857-872.
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    More about this item

    Keywords

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    JEL classification:

    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
    • G01 - Financial Economics - - General - - - Financial Crises
    • L25 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Firm Performance

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