Réflexions sur la monnaie et la banque au Liban

Abstract

Banks and currencies have always been intimately linked and the problems suffered by one affect inevitably the other. This article which recalls the history of the contemporary national currency tries to enlighten the causes of the most serious monetary crisis that Lebanon has incurred since its independence in 1943 and the deleterious effects of this crisis on the Lebanese banking sector which is, in part, responsible for having blindly followed, not always under duress, the policy drawn up by the central bank and which only found, to escape total bankruptcy, to hang on to the unlimited liberating power of a Lebanese pound issued by the Banque du Liban but devaluated de facto if not de jure.

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