Bank of Lebanon’s Sayrafa: Social Assistance of Last Resort?

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Sami Zoughaib, Economist and Research Manager at The Policy Initiative
Wassim Maktabi, Economist and Researcher at The Policy Initiative

The destructive mix of a sudden annihilation of income and savings, a paralysis of economic activity, and a poor social protection system is pushing the Lebanese population to the brink of a humanitarian crisis. In this brief thought paper, the authors review the impact of the central bank’s subsidy scheme and foreign exchange platform.

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