23/02/2021

How Diaspora Transfers Reduce The Impact Of The Crisis In Lebanon

Dr. Rand Ghayad, Economic Advisor for Latin America and the Caribbean at the
International Monetary Fund, recently shared some data about transfers to
Lebanon byLebanese expatriates.

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In a tweet, Ghayad estimated that the remittances from expatriates to Lebanon
in 2020 amounted to nearly $7 billion, “surpassing the average of the past 15
years of $6.8 billion.”

The Daily Star/Mohamad Azakir

“These transfers remain the only lifeline for thousands of families to survive in a
looted country monopolized by a political authority for itself,” he said.
In a statement commenting on the tweet, the former head of the Central Fund
for the Displaced, Dr. Shady Massad, added that these transfers are the primary
reason behind the relative stability of the dollar on the black market today.
They are also “what keep dollars in the country, as there is no other source of
hard currency these days, with the absence of agricultural and industrial exports
abroad,” he af rmed.
https://www.the961.com/diaspora-transfers-crisis-lebanon/

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