Voices on the Ground: Lebanon’s Economic Crisis

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ELISA CHERRY
MIDDLE-EAST ANALYST

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Lebanon has been in a severe economic crisis since October 2019. This state of the Lebanese economy was a result of the public sector debt; the over lending of banks rendering them essentially bankrupt; a lack of economic growth and political corruption.  Further, inflation rates in the country already riddled with corruption has severed the trust of the international community who have hesitated to provide aid, and the Lebanese lira, once pegged to the US dollar, is now nearly worthless. The security implications of this ongoing economic crisis could pivot the country into greater unrest, or even full out civil war. Competing forces in the country must work together, along with help from the international community in order to bring Lebanon out of its economic catastrophe.

 

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