Lebanon’s economic collapse: Ask Me Anything live with Middle East correspondent Bel Trew

  • Date: 05-Jul-2021
  • Source: The Independent
  • Sector:Economy
  • Country:Lebanon
  • Who else needs to know?

Lebanon’s economic collapse: Ask Me Anything live with Middle East correspondent Bel Trew

Lebanon is currently in the grips of one of the worst economic collapses in the last 170 years, according to the World Bank.

The local currency has lost nearly 90 percent of its value since the start of 2020 and keeps tumbling: rampant inflation means that food prices have quadrupled over the last year.

It has become so severe the United Nations has warned of pockets of famine and said last week that nearly 80 percent of households do not have food or the money to buy food. Among Lebanon’s 1.5 million strong Syrian refugee population that figure rises to 99 percent.