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Lebanon's Middle East Airlines to refuse local currency for bookings

Feb 17

Lebanon's Middle East Airlines to refuse local currency for bookings

Middle East Airlines will accept payments made by any credit card or bank cheque in foreign currency

Lebanon’s Middle East Airlines and carriers operating in the country will only accept payments in dollars starting Monday, as the nation teeters on the brink of default.

The airline, 99% owned by Lebanon’s central bank, will accept payments made by any credit card or bank cheque as long as the “transaction is made in foreign currency,” according to state-run National News Agency.

Lebanon is grappling with its worst economic and political crisis in decades, following months of protests that forced the previous government to resign.

International reserves can only finance external needs until March 2021 before being depleted, according to Bloomberg Economics, and attempts to secure financial assistance from Gulf allies have so far come to naught.

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