WORLD Lebanon says to receive 1.135 bln USD in SDRs from IMF


Lebanon says to receive 1.135 bln USD in SDRs from IMF


07:08, September 14, 2021

BEIRUT, Sept. 13 (Xinhua) -- Lebanon's Finance Ministry said on Monday that the central bank will receive 1.135 billion U.S. dollars on Sept. 16 in International Monetary Fund Special Drawing Rights (SDRs).

Photo taken on Dec. 3, 2018 shows holiday lights and decorations in downtown Beirut, Lebanon. (Xinhua/Bilal Jawich)

The new allocation of the IMF's reserve currency is comprised of 860 million U.S. dollars from 2021 and 275 million U.S. dollars from 2009, a statement by the ministry said.

Lebanon is suffering from a shortage in U.S. currency reserves which prevents the country from importing basic goods such as fuel and medicines.

The country's financial crisis plunged 74 percent of its population into poverty.

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