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Tag Archives: dollar crisis

Fuel shortages threaten internet in Lebanon

Lebanon’s telecommunications and internet sector could collapse within days due to fuel shortages, a parliamentary committee warned Tuesday. Parliament’s Media and Communications Committee said: “The quantity of diesel at Lebanon’s state-owned Touch and Alfa mobile companies and the state-run telecommunications company Ogero, which operates fixed lines and fixed internet, is …

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Korea, Turkey sign key currency swap deal

South Korea and Turkey have signed a currency swap agreement that will allow both countries to provide liquidity for the counterparty in a move aimed at strengthening financial stability, the Bank of Korea (BOK) said on Thursday. The $2 billion agreement will enable the Bank of Korea to provide the …

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Erdogan makes major cabinet reshuffle in Turkey

President Tayyip Erdogan named a prominent member of Turkey’s ruling AK Party, Mehmet Mus, as trade minister on Wednesday and split another ministry into two, in what officials said was the first move in an expected broader cabinet shuffle. In a presidential decree Ruhsar Pekcan, the cabinet’s highest-profile woman, was …

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IMF preparing next billion dollar loan to Egypt

The International Monetary Fund on Friday said it had reached a staff-level agreement with Egypt for a one-year, $5.2 billion standby loan to help the North African country grapple with the novel coronavirus pandemic and its economic fallout. The agreement, which must be finalized by the Fund’s executive board, would …

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