Lebanon's Economy at the May 2026 Inflection
The stabilization that has held the Lebanese economy together since 2024 is intact at the May 2026 inflection, but all three of its supports are under simultaneous strain. The pound has traded within half a percent of its fixed rate of 89,500 to the dollar throughout the war. The central bank’s foreign-currency reserves, counting both cash and foreign bond holdings, stood near 12.0 billion dollars before the war and 11.43 billion at the end of April 2026, a drawdown of...