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World Bank: Lebanon Crisis Among World s Worst Since 1850s

Tuesday, 1 June, 2021 - 11:30 Anti-government demonstrators block the street with burning garbage dumpsters in front of Lebanon s central bank in this file picture taken on March 16, 2021 - AFP Asharq Al-Awsat Lebanon s economic collapse is likely to rank among the world s worst financial crises since the mid-19th century, the World Bank said in a damning report released Tuesday. The report predicts that Lebanon s economy will shrink by close to 10 percent in 2021 and stresses there is no clear turning point in the horizon . Lebanon defaulted on its debt last year, the currency lost around 85 percent of its value and poverty is devastating a country once seen as a beacon of prosperity in the region, AFP reported.

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Demandan en Líbano más profesionalidad en combate al contrabando

Demandan en Líbano más profesionalidad en combate al contrabando
prensa-latina.cu - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from prensa-latina.cu Daily Mail and Mail on Sunday newspapers.

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Analysis: Cocoa and cashew nuts - Lebanon s long subsidy list is costing it dear

As Lebanon's hard currency reserves dropped alarmingly last year, its subsidy programme expanded to include cocoa powder, cashew nuts and saffron.

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Analysis: Cocoa and cashew nuts: Lebanon s long subsidy list is costing it dear

May 19, 202110:51 AM UTC Middle EastAnalysis: Cocoa and cashew nuts: Lebanon s long subsidy list is costing it dear Maha Dahan 1/7 A worker operates a forklift at Bohsali food warehouse in Bchamoun, Lebanon, May 5, 2021. REUTERS/Mohamed Azakir Read More As Lebanon s hard currency reserves dropped alarmingly last year, its subsidy programme expanded to include cocoa powder, cashew nuts and saffron. The move was designed to support local producers who either made the goods or used them as ingredients, and to complement price support for core items like fuel and wheat aimed at ordinary people caught up in a spiralling financial crisis. But for critics of the government, the additions were a sign of a bloated and poorly managed subsidy system that did not always reach the people it was meant to, encouraged smuggling and wasted precious reserves.

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Le Liban en manque de finances désormais à court d électricité

Le Liban en manque de finances désormais à court d électricité
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