The World Bank in a report said that Lebanon’s economic collapse is likely to rank among the world’s worst financial crisis since the mid-19th century.
Lebanon's economic collapse is likely to rank among the the world's worst financial crises since the mid-19th century, the World Bank said in a damning report released Tuesday.
The Globe and Mail Ellen Francis and Issam Abdallah BEIRUT Bookmark Please log in to listen to this story. Also available in French and Mandarin. Log In Create Free Account
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Discontent is brewing in the ranks of Lebanon’s security forces over a currency crash wiping out most of the value of their salaries as unrest and crime surge.
In unusually outspoken comments, army chief General Joseph Aoun said his warnings that the pressure on soldiers’ earnings and morale could lead to an “implosion” had fallen on deaf ears.
The days-long protests come against the backdrop of a crash in the local currency, increase of consumer goods prices and political bickering between rival groups that has delayed the formation of a new government