Lebanon on the brink
Is this the most critical moment since the country's civil war?
The financial crisis in Lebanon seems to have accelerated rapidly ever since the government defaulted on a ninety-billion-dollar loan in March.The currency has lost nearly eighty percent of its value pushing a large group of its population below the poverty line. A shortage of cash has led many to barter household goods for food on Facebook. Even the Lebanese army has stopped serving meat to its soldiers. And many of its citizen are seeking refuge abroad. At the heart of the crisis is the country’s banking sector. Protesters see it as the embodiment of a corrupt economic system that has enriched the elites who are now unwilling to foot their share of the bill. Now, compounded by the outbreak of the coronavirus, has Lebanon entered its most critical moment since the end of the civil war? As the country stares into the abyss will its disparate political groups be willing to come together to prevent a financial meltdown? Ritula Shah and a panel of expert guests discuss what hope there is for Lebanon.
Henri Chaoul - Managing partner of financial advisory company, Levantine partners
Sybille Rizk - Lebanon Correspondent for the French Newspaper, Le Figaro.
Sami Halabi - Director of Policy at Triangle research consultancy in Beirut
Anti-government protesters shout slogans against all parties during a demonstration in front the Lebanese Electricity company main building in Beirut, Lebanon, 07 July 2020 by EPA/Nabil Mounzer
- Fri 10 Jul 2020 09:06GMT
- Fri 10 Jul 2020 23:06GMT
- Sat 11 Jul 2020 03:06GMT