The Lebanon's crisis

The current crisis in Lebanon is triple.

First of all it's an economic crisis.

Without strong industry or own resources, Lebanon has tried for years to attract foreign capital, For this, they offered up to offer 20% interest on investments in dollars.

The country's geopolitical instability, as well as the Covid-19 crisis, does not necessarily encourage investors to spend money in new investments.

The economic crisis is getting worse and worse in Lebanon. The local currency has lost six times its value in a few months, which has dragged the country into an inflationary spiral that nothing seems able to stop.

For example, meat has become an inaccessible commodity for most Lebanese. The lebanon army, has taken off meat from the meals of its soldiers at the end of June 2020 because it was too expensive. All fruits and vegetables have seen their price multiplied by 4.

The crisis affects all social classes. The middle class is falling into poverty due to inflation all across the country.

The only chance for Lebanon to save itself would be with the help of the IMF (International Monetary Fund)

The IMF would be ready to lend eleven billion dollars to Lebanon, but country must make austerity measures. It means fusion of public institutions, no more recruitement in public services, and privatizon of company, to make the economy healthier. For example, the privatization of the electricity of Lebanon, because the country is not able to insure this service.
But before all, the country must rebuild itself politically to receive this aid.

The crisis is as well political.
Lebanon is ranked 137 out of 180 countries in 2019 in terms of perception of corruption according to the Transparency International Index.

As we said before, after the blast of the port the 4th of august, the entire government has quit.

Moustapha Adib was appointed as prime minister the 31st of august. He was under pressure to create a new government as fast as possible to save the country, and make new reforms.

The only way for the country to have the international help and billions dollars was to make a new govermnent. But the face to the pressure from Hezbollah (qualified as a terrorist political party by some countries), he renounce to his position of prime minister and quit because he was unable to creat a new government.

The position of prime minister in Lebanon is empty since the 26th of september.

Finally, the crisis is sanitary. More of a half of the hospital of Beyrouth, including three of the most important, was destroyed by the blast of the 4th of August. During de sanitary crisis of Covid 19, it’s a huge problem to have hospital destroyed. It another problem for the country.

Official figures from the World Bank claim that more than 50% of the Lebanese population live below the poverty line, and over 30% below the extreme poverty line.

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