Title : Lebanese Struggle To Survive Their Country's Economic Collapse
link : Lebanese Struggle To Survive Their Country's Economic Collapse
Lebanese Struggle To Survive Their Country's Economic Collapse
NBC: 'There is no future here': Lebanese struggle through economic collapse
"I was shocked. I'm Lebanese, I have a job, I have health insurance," one person with breast cancer said about struggling to afford a $5 chemotherapy co-pay.
BEIRUT — Ahmed Hamour had been waiting to fill up with gas for 90 minutes.
He anticipated he'd have to wait at least another hour and a half to get his turn at the pump. "Every morning I ask, 'What’s new today?'" said Hamour, 58, as he lined up to buy gas in the middle-class Lebanese capital's Baabda neighborhood.
He bemoaned the skyrocketing costs of daily living for everything from gas to electricity, meat and sugar — if they were even on store shelves. "Every day, the Lebanese lifestyle is deteriorating," the bespectacled grandfather said. "There is no future here."
Hamour is not alone in his sense of despair. Lebanon is suffering from what the World Bank has labeled one of the most severe global financial crises since the mid-19th century.
The Lebanese currency has lost more than 90 percent of its value since late 2019, when the country’s economic and financial crisis erupted.
The dire economic depression has driven more than half of the country's 6.8 million people into poverty and is now pushing wealthy and middle-class Lebanese people to flee the country.
Read more ....
Update #1: The Economic Crisis In Lebanon May Be One Of The Worst In The World Since The 1800s (NPR)
Update #2: Government raises price of staple bread once more in Lebanon (AP)
WNU Editor: The Lebanon of today reminds me of Russia in the early 1990s when it experienced its economic collapse. The only difference is that Russia's massive resource base helped pull it out of its economic disaster, and it took over a decade to accomplish it. I do not see (or expect) Lebanon to be that lucky.
NBC: 'There is no future here': Lebanese struggle through economic collapse
"I was shocked. I'm Lebanese, I have a job, I have health insurance," one person with breast cancer said about struggling to afford a $5 chemotherapy co-pay.
BEIRUT — Ahmed Hamour had been waiting to fill up with gas for 90 minutes.
He anticipated he'd have to wait at least another hour and a half to get his turn at the pump. "Every morning I ask, 'What’s new today?'" said Hamour, 58, as he lined up to buy gas in the middle-class Lebanese capital's Baabda neighborhood.
He bemoaned the skyrocketing costs of daily living for everything from gas to electricity, meat and sugar — if they were even on store shelves. "Every day, the Lebanese lifestyle is deteriorating," the bespectacled grandfather said. "There is no future here."
Hamour is not alone in his sense of despair. Lebanon is suffering from what the World Bank has labeled one of the most severe global financial crises since the mid-19th century.
The Lebanese currency has lost more than 90 percent of its value since late 2019, when the country’s economic and financial crisis erupted.
The dire economic depression has driven more than half of the country's 6.8 million people into poverty and is now pushing wealthy and middle-class Lebanese people to flee the country.
Read more ....
Update #1: The Economic Crisis In Lebanon May Be One Of The Worst In The World Since The 1800s (NPR)
Update #2: Government raises price of staple bread once more in Lebanon (AP)
WNU Editor: The Lebanon of today reminds me of Russia in the early 1990s when it experienced its economic collapse. The only difference is that Russia's massive resource base helped pull it out of its economic disaster, and it took over a decade to accomplish it. I do not see (or expect) Lebanon to be that lucky.
Thus articles Lebanese Struggle To Survive Their Country's Economic Collapse
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