5 news for the 26th of October, December
with the booksDecember 26, 1979wednesday
Efforts intensified to free the Zghortiote hostages. Sleiman Frangieh set the deadline to December 31.
October 26, 1981monday
Terrorism hit once again. 20 persons were injured in a car explosion in Sin el Fil.
December 26, 1986friday
The dollar crossed the 80 Lebanese Pounds threshold. It continued its rise to reach the fateful three digit numbers. According to statistics, consumer products had increased by 204% in a year and the Lebanese Pound had depreciated by 365%.
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Historians give lower figures for 1986: retail inflation of 162 per cent (Hanf, after the central bank) or a 95 per cent rise in Beirut consumer prices, and a 134 per cent devaluation of the pound (de Clerck and Malsagne).
October 26, 1987monday
The dollar comes close to 500 LBP in Beirut. This staggering drop of the Lebanese Pound finds its explanation in the important drain of capitals out of Lebanon and the decrease of currency transfers into the country.
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With a budget deficit near 80 percent, the government leaned on central bank loans, then on printing money (Hanf). Inflation in 1987 was 450 or 620 percent depending on the index (de Clerck and Malsagne; Hanf), and close to one Lebanese in five was poor (Picard).
October 26, 1988wednesday
The Israeli airforce hits again in East Saida and in Southern Beirut killing 15 persons and injuring 48.