Lebanese government raises subsidis
01 July 2020; MEMO: The Lebanese government on Tuesday raised the price of a 900-gramme loaf of partially subsidised bread to 2,000 pounds from its pre-October-crisis price of 1,500 pounds.
The pound, which is officially pegged at 1,500 to the dollar, has lost over 80% of its value since October and is now trading at nearly 9,000 to the dollar on the black market after sharp falls in recent days.
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