Scenes of economic despair are visible across Lebanon – from shops to homes, businesses to hospitals. Guardian journalist Martin Chulov discusses why the country is verging on financial collapse
Across all pockets of a country conditioned to hardship over decades of war and tumult, the effects of a catastrophic economic implosion were evident when the Guardian’s Middle East correspondent Martin Chulov took a road trip across Lebanon. Since March, the prices of most goods have nearly tripled, while the value of the national currency has fallen by 80% and much of the country has ground to a halt. Those who still have work are surviving month to month. Poverty is soaring, crime is rising, and streets are incendiary. The country has defaulted on one bond payment and a second is due soon.
Martin tells Rachel Humphreys about how government corruption and financial mismanagement have lead to Lebanon finding itself on the brink of financial collapse.
Continue reading...from World news | The Guardian https://ift.tt/2XCgWl1
Hello, my name is Jack Sparrow. I'm a 50 year old self-employed Pirate from the Caribbean.
No comments:
Post a Comment