But it is disconnected from the reality of everyday life
This is not the French Riviera or Mykonos, though. It is Lebanon, where a
There have been years of monetary madness. The lira had been pegged since 1997 at 1,500 to the dollar, but the official rate soon became irrelevant. Various quasi-official rates were introduced for subsidies and banks, while the black-market rate sank steadily lower. Lebanon has 18 officially recognised religious sects; for a time, people joked, it had 18 different exchange rates.
Inflation has made it even harder for most Lebanese to make ends meet. Prices seem higher than ever. The cost of a basket of staple food has risen by more than 1,700% since 2019. Half of all Lebanese families cannot afford enough to eat, let alone take a holiday.
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