Like many countries of the world, Lebanon, which is called the ‘Paris’ of the Middle East, is also a victim of economic crisis. The current economic condition of the country is slowly getting worse. A huge decline has been registered in the price of currency (Lebanon Currency). The value of the country’s currency has fallen by 90 percent. People’s problems are increasing due to inflation.
The major reason behind the deepening of the Lebanon Economic Crisis is believed to be the corruption and economic mismanagement that has been flourishing in the country for many years.
The Central Bank of the country has gone bankrupt. The value of the country’s currency has fallen by 90 percent. The Deputy Prime Minister of the country has himself accepted that his country is standing on the verge of poverty.
If you look at the statistics collected related to poverty in this country, then about 82 percent of the population here has become poor. That’s why this country, being poor, has now appealed to the IMF for help. These heart-wrenching sensational facts have been disclosed by the country’s Deputy Prime Minister Sadeh Al-Shami himself. He was talking to Saudi Arabia’s channel Al-Arabiya recently. Speaking to the channel, Lebanese Deputy Prime Minister Sadeh al-Shami said, “Unfortunately, both the central bank (Banque du Liban) and our country are bankrupt. We want to find a strong solution to this problem as soon as possible.
Due to the fall in the currency value, the inflation in the country has increased wildly. Just like the condition of India’s neighboring friendly country Sri Lanka. If we talk about Lebanon, today the countrymen are not getting enough food.
Most of the citizens are completely deprived of health facilities. There is not even a trace of education left far and wide. Due to lack of fuel, people have been forced to stay in darkness in their homes at night. In fact, it is also necessary to mention here that Lebanon is one of those countries which are dependent on imports. Due to the economic crisis, the country’s foreign exchange reserves are also lying empty. Therefore, today Lebanon is not even in a position to get goods from abroad. Talking about unemployment in the country, it has increased to 40 percent.
Which is enough to measure the destruction of any country. Corona also drowned the country more. In the year 2020, a terrible explosion at a port in Beirut made the economic crisis even more dangerous. It is said that more than 200 people were killed in that explosion. That incident also broke the country badly. The capital Beirut was also shaken by that explosion.