Saudi Press

Saudi Arabia and the world
Sunday, Nov 16, 2025

Lebanon needs up to $15bn to rise from economic collapse

Lebanon needs up to $15bn to rise from economic collapse

Lebanon needs 12-15 billion dollars in loans from its partners to restart its economy, says the governor of the country's Central Bank. Howerver many blame Riad Salameh's policies for Lebanon's economic crisis, which has pushed swathes of people into poverty.

Salameh said Tuesday in an interview with AFP that the International Monetary Fund’s quota for Lebanon was four billion euros.

"If countries add to it, we could reach 12 to 15 billion dollars, an amount that could help start Lebanon's recovery and restore confidence," he said.

Lebanon's financial collapse in 2019 has left more than 80 percent of the population living in poverty, and the currency, the Lebanese pound, has lost more than 90 percent of its value.

Officially pegged at 1,507 to the dollar since 1997, the Lebanese pound sold for nearly 30,000 to the dollar on the black market earlier this month, a record low.

Political squabbling has delayed an agreement with the IMF that would start to resolve the crisis, and political leaders have continued to resist key reforms demanded by donors to unlock necessary funds after it defaulted on its debt for the first time last year.

France has spearheaded international efforts to help Lebanon raise international aid, particularly from wealthy Arab powers.

Central bank to blame?


Salameh has dismissed criticism blaming him and central bank policies for the economic crash, saying "had it not been for the central bank and its reserves, Lebanon would not have been able to carry on".

The central bank's mandatory dollar reserves have been slashed by more than half, and its fast-diminishing reserves are threatening a subsidy programme that covered fuel, medicine, flour and other key imports.

According to Salameh the central bank can afford to finance partial subsidies on a few remaining imports for "around six to nine months," if no additional measures are taken to combat the depreciation of the Lebanese pound.

Salameh is facing judicial investigations in France, Switzerland and other European countries on suspicion of money laundering and illicit enrichment among other charges.

He dismissed the cases against him as unfounded and lacking in evidence, claiming they were opened based on complaints filed by Lebanese citizens "for reasons that could be political... or tied to certain interests."

"I am ready to cooperate with all investigations," he said, claiming they were based on "fabricated evidence".

Newsletter

Related Articles

Saudi Press
0:00
0:00
Close
Saudi Delegation Strengthens EU–MENA Security Cooperation in Lisbon
Saudi Arabia’s Fossil-Fuel Dominance Powers Global Climate Blockade
Trump Organization Engages Saudi Government-Owned Real-Estate Deal Amid White House Visit
Trump Organization Nears Billion-Dollar Saudi Real Estate Deal Amid White House Diplomacy
Israel Presses U.S. to Tie Saudi F-35 Sale to Formal Normalisation
What We Know Now: Donald Trump’s Financial Ties to Saudi Arabia
Saudi Arabia’s Ambitious Defence Wish List for Washington: From AI Drones to Nuclear Umbrella
Analysis Shows China, Saudi Arabia and UAE among Major Recipients of Climate Finance Loans
Why a Full Saudi–Israel Normalisation Deal Eludes Trump’s Reach
Trump Presses Saudi Arabia to Normalise Ties with Israel as MBS Prepares for White House Visit
US-Saudi Summit Set for November 18 Seeks Defence Pact and Israel Normalisation Momentum
Comcast CEO Brian Roberts Visits Saudi Arabia Amid Potential Bid for Warner Bros. Discovery
Cristiano Ronaldo Embraces Saudi Arabia’s 2034 World Cup Vision with Key Role
Saudi Arabia’s Execution Campaign Escalates as Crown Prince Readies U.S. Visit
Trump Unveils Middle East Reset: Syria Re-engaged, Saudi Ties Amplified
Saudi Arabia to Build Future Cities Designed with Tourists in Mind, Says Tourism Minister
Saudi Arabia Advances Regulated Stablecoin Plans with Global Crypto Exchange Support
Saudi Arabia Maintains Palestinian State Condition Ahead of Possible Israel Ties
Chinese Steel Exports Surge 41% to Saudi Arabia as Mills Pivot Amid Global Trade Curbs
Saudi Arabia’s Biban Forum 2025 Secures Over US$10 Billion in Deals Amid Global SME Drive
Saudi Arabia Sets Pre-Conditions for Israel Normalisation Ahead of Trump Visit
MrBeast’s ‘Beast Land’ Arrives in Riyadh as Part of Riyadh Season 2025
Cristiano Ronaldo Asserts Saudi Pro League Outperforms Ligue 1 Amid Scoring Feats
AI Researchers Claim Human-Level General Intelligence Is Already Here
Saudi Arabia Pauses Major Stretch of ‘The Line’ Megacity Amid Budget Re-Prioritisation
Saudi Arabia Launches Instant e-Visa Platform for Over 60 Countries
Dick Cheney, Former U.S. Vice President, Dies at 84
Saudi Crown Prince to Visit Trump at White House on November Eighteenth
Trump Predicts Saudi Arabia Will Normalise with Israel Ahead of 18 November Riyadh Visit
Entrepreneurial Momentum in Saudi Arabia Shines at Riyadh Forward 2025 Summit
Saudi Arabia to Host First-Ever International WrestleMania in 2027
Saudi Arabia to Host New ATP Masters Tournament from 2028
Trump Doubts Saudi Demand for Palestinian State Before Israel Normalisation
Viral ‘Sky Stadium’ for Saudi Arabia’s 2034 World Cup Debunked as AI-Generated
Deal Between Saudi Arabia and Israel ‘Virtually Impossible’ This Year, Kingdom Insider Says
Saudi Crown Prince to Visit Washington While Israel Recognition Remains Off-Table
Saudi Arabia Poised to Channel Billions into Syria’s Reconstruction as U.S. Sanctions Linger
Smotrich’s ‘Camels’ Remark Tests Saudi–Israel Normalisation Efforts
Saudi Arabia and Qatar Gain Structural Edge in Asian World Cup Qualification
Israeli Energy Minister Delays $35 Billion Gas Export Agreement with Egypt
Fincantieri and Saudi Arabia Agree to Build Advanced Maritime Ecosystem in Kingdom
Saudi Arabia’s HUMAIN Accelerates AI Ambitions Through Major Partnerships and Infrastructure Push
IOC and Saudi Arabia End Ambitious 12-Year Esports Games Partnership
CSL Seqirus Signs Saudi Arabia Pact to Provide Cell-Based Flu Vaccines and Build Local Production
Qualcomm and Saudi Arabia’s HUMAIN Team Up to Deploy 200 MW AI Infrastructure
Saudi Arabia’s Economy Expands Five Percent in Third Quarter Amid Oil Output Surge
China’s Vice President Han Zheng Meets Saudi Crown Prince as Trade Concerns Loom
Saudi Arabia Unveils Vision for First-Ever "Sky Stadium" Suspended Over Desert Floor
Francis Ford Coppola Auctions Luxury Watches After Self-Financed Film Flop
US and Qatar Warn EU of Trade and Energy Risks from Tough Climate Regulation
×