{"id":1817,"date":"2021-11-28T05:24:58","date_gmt":"2021-11-28T04:24:58","guid":{"rendered":"https:\/\/monblogeur.tech\/index.php\/2021\/11\/28\/lebanese-central-bank-blames-google-fb-for-currency-plunge-the-new-arab\/"},"modified":"2021-11-28T05:24:58","modified_gmt":"2021-11-28T04:24:58","slug":"lebanese-central-bank-blames-google-fb-for-currency-plunge-the-new-arab","status":"publish","type":"post","link":"https:\/\/monblogeur.tech\/index.php\/2021\/11\/28\/lebanese-central-bank-blames-google-fb-for-currency-plunge-the-new-arab\/","title":{"rendered":"Lebanese central bank blames Google, FB for currency plunge &#8211; The New Arab"},"content":{"rendered":"<div class=\"cfbc967f0983488262956e73eca9483a\" data-index=\"1\" style=\"float: none; margin:10px 0 10px 0; text-align:center;\">\n<script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3859091246952232\" crossorigin=\"anonymous\"><\/script>\r\n<!-- blok -->\r\n<ins class=\"adsbygoogle\" data-ad-client=\"ca-pub-3859091246952232\" data-ad-slot=\"1334354390\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script>\r\n\n<\/div>\n<p>Lebanon\u2019s central bank, <a href=\"https:\/\/english.alaraby.co.uk\/news\/lebanon-central-bank-audit-demanded-imf-france-resume\">the Banque du Liban<\/a>, on Friday took aim at tech giants Google and Facebook as the <a href=\"https:\/\/english.alaraby.co.uk\/news\/lebanese-pound-sinks-new-low-black-market-friday\">country\u2019s currency hit a new record low on the black market<\/a>, plunging to 25,000 Lebanese pounds against one US dollar.<br \/>This is nearly 17 times less than the official rate set by the bank, which is 1,500 Lebanese pounds to the dollar.<br \/>The Banque du Liban said that <a href=\"https:\/\/english.alaraby.co.uk\/news\/lebanon-requests-fbi-help-close-black-market-apps\">currency trading apps advertising black market exchange rates<\/a> for the Lebanese pound were behind the latest fall in the national currency\u2019s value, and blamed Google and Facebook for not shutting them down.<br \/>\u201cMany of [the currency trading apps] are based outside Lebanon and the Banque du Liban has called on Internet companies to ban these apps from their networks,\u201d its statement said.<br \/>\u201cThe Banque du Liban will monitor this situation externally and will hold companies such as Google, Facebook, and others to account\u00a0for the harm these apps have caused Lebanon,\u201d the statement warned.<br \/>The bank called on the tech companies to \u201conly publish the official rate\u201d, describing the currency trading apps as \u201cillegal\u201d and saying that \u201ctrading and political interests were behind them\u201d.<br \/>Lebanon is currently suffering from multiple economic, political, and financial crises. The World Bank has said that that the situation in the country is unprecedented, <a href=\"https:\/\/english.alaraby.co.uk\/news\/lebanon-crisis-among-worlds-worst-1850s-world-bank\">describing Lebanon\u2019s economic crisis as the worst in the world since 1850.<\/a><br \/>Around 80 percent of the country\u2019s population <a href=\"https:\/\/english.alaraby.co.uk\/news\/lebanon-failing-its-people-un-poverty-envoy\">is now living in poverty as a result.<\/a><br \/>Riad Salameh, who has been governor of the Banque du Liban since 1993, is <a href=\"https:\/\/english.alaraby.co.uk\/news\/luxembourg-probes-lebanon-central-bank-governor\">currently under investigation for corruption in Luxembourg and Switzerland.<\/a><br \/>He was previously praised for his monetary policies but is now accused of running a Ponzi scheme which led to the Lebanese pound\u2019s dramatic collapse in 2019.<br \/>This is not the first time that Lebanese authorities have blamed Internet apps for the plunging value of the Lebanese pound.<br \/>In March this year, Lebanese judicial authorities requested the help of the US Federal Bureau of Investigation (FBI) to help shut down currency trading apps advertising the black market rate.<\/p>\n<p><a href=\"https:\/\/english.alaraby.co.uk\/news\/lebanese-central-bank-blames-google-fb-currency-plunge\">source<\/a><\/p>\n<!--CusAds0-->\n<div style=\"font-size: 0px; height: 0px; line-height: 0px; margin: 0; padding: 0; clear: both;\"><\/div>","protected":false},"excerpt":{"rendered":"<p>Lebanon\u2019s central bank, the Banque du Liban, on Friday took aim at tech giants Google and Facebook as the country\u2019s currency hit a new record low on the black market, plunging to 25,000 Lebanese pounds against one US dollar.This is nearly 17 times less than the official rate set by the bank, which is 1,500 [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"googlesitekit_rrm_CAow1sXXCw:productID":"","_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[],"class_list":["post-1817","post","type-post","status-publish","format-standard","hentry","category-non-classe"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/monblogeur.tech\/index.php\/wp-json\/wp\/v2\/posts\/1817","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/monblogeur.tech\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/monblogeur.tech\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/monblogeur.tech\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/monblogeur.tech\/index.php\/wp-json\/wp\/v2\/comments?post=1817"}],"version-history":[{"count":0,"href":"https:\/\/monblogeur.tech\/index.php\/wp-json\/wp\/v2\/posts\/1817\/revisions"}],"wp:attachment":[{"href":"https:\/\/monblogeur.tech\/index.php\/wp-json\/wp\/v2\/media?parent=1817"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/monblogeur.tech\/index.php\/wp-json\/wp\/v2\/categories?post=1817"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/monblogeur.tech\/index.php\/wp-json\/wp\/v2\/tags?post=1817"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}