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“Policy responses by Lebanon’s leadership to these challenges have been highly inadequate,” the report said. Lebanon’s ruling class has failed to act on the country’s worst emergency in a generation, which was compounded by the coronavirus pandemic and a devastating explosion at Beirut port last August. This picture shows the grain silos at Beirut port, almost a year after the August 4 massive explosion that killed more than 200 people and injured scores of others, on May 27, 2021. (Joseph EID / AFP) The International Monetary Fund has offered assistance but the country’s political barons have failed to even form a government that could deliver the reforms on which foreign aid is conditioned. ....
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. ....
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. ....
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. ....
BEIRUT: 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 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 ....