What’s the way out of Lebanon’s economic crisis?

2 months ago 25
From: Counting the Cost

Lebanese banks to remain shut ‘indefinitely’ after a series of holdups by angry depositors.

The World Bank says Lebanon’s economic crisis may be one of the three worst in modern times and it has left eight in 10 people poor.

Many Lebanese people cannot afford basic necessities and those who have their life savings in banks cannot access them.

Withdrawals have been limited since the financial meltdown started in 2019. Now, desperate depositors are robbing banks across the cash-strapped country to get hold of their money.

Elsewhere, the International Monetary Fund says China and other big creditors have a responsibility to prevent debt problems from exploding. What can Beijing do?

Published On 24 Sep 2022

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