LINGERING FINANCIAL CRISIS Lebanon is grappling with one of the worst crises in its modern history, as an economic and financial collapse that began in 2019 has been compounded by the conflict. A recent World Bank report estimates that the conflict has caused 8.5 billion U.S. dollars in combin...
The report noted that the inflation rate is predicted to climb to 231.3 percent in 2023, given the depreciation of the local currency and dollarization of economic transactions. "Lebanon remains entrenched in a socioeconomic and financial crisis, further exacerbated by institutional and political stalem...
In the History section, updated the discussion of Lebanon's economic crisis. Adam Zeidan Jun 03, 2020 In the History section, added discussion of Hassan Diab's appointment as prime minister. Adam Zeidan Jan 23, 2020 Country Profile: Updated head of government. World Data Editors Jan 23,...
GDP growth in Lebanon slowed to less than 2 percent from 2011 to 2017. In 2018 a financial crisis loomed as the debt-to-GDP ratioexceeded150 percent. Political wrangling and corruption, belt-tighteningausterity measures, and the inability of the government to address crises contributed to a subs...
Alameh said the economic crisis had weighed on Christmas celebrations, and now conflict had made things worse. "Instead of celebrating at home, in our village, with our relatives, we were displaced," she said. "We will all be here, but the happiness is bitter." (Writing by Tom Pe...
Posted on October 25, 2023 By rayhanania 1 Comment on Arabs on Titanic: Arabs share the pain but not the glory in ship’s tragic tale Arabs on Titanic: Arabs share the pain but not the glory in ship’s tragic tale The story of the Titanic has never been fully told. Among the pas...
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Hundreds of thousands of the displaced are staying in shelters around the small nation that is passing through a historic economic crisis. In northern Israel, 68 soldiers and 41 civilians have been killed since October 2023, according to the prime minister’s office. More than 60,000 ...
BEIRUT, Jan. 31 (Xinhua) -- Lebanese Social Affairs Minister Hector Hajjar on Wednesday called on the international community to support citizens in southern Lebanon as confrontations with Israel on the border area have exacerbated people's suffering amid the current economic crisis. ...
"Lebanon is an exceptional case in light of the current economic crisis, which must be taken into account," Mikati said when meeting with Director of UNRWA Affairs in Lebanon Dorothee Klaus. Lebanon has been in the throes of an unprecedented financial crisis since 2019 and is already hosting ...