Lebanon itself needs to resolve its political crisis and implement necessary economic and fiscal reforms. But the international community must provide ample and unequivocal financial support, not least because of the heavy burden the country is bearing as a result of the war in neighboring Syria.
BRATISLAVA – The news from Lebanon in recent weeks has been grim. As street protests in Beirut and other cities intensify, so does the country’s economic suffering. A political, economic, and social crisis has taken hold, leading to hard-currency shortages that hinder imports of vital daily commodities such as wheat, medicine, and fuel. Moreover, these problems are occurring against a backdrop of faltering economic growth and huge external debts. Local banks have imposed unprecedented capital controls, and thousands of Lebanese have recently lost their jobs or had their wages greatly reduced.
BRATISLAVA – The news from Lebanon in recent weeks has been grim. As street protests in Beirut and other cities intensify, so does the country’s economic suffering. A political, economic, and social crisis has taken hold, leading to hard-currency shortages that hinder imports of vital daily commodities such as wheat, medicine, and fuel. Moreover, these problems are occurring against a backdrop of faltering economic growth and huge external debts. Local banks have imposed unprecedented capital controls, and thousands of Lebanese have recently lost their jobs or had their wages greatly reduced.