Lebanese Woes

Lebanese Woes

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Head Finance

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Lebanese Woes

July 10, 2020

Lebanon is facing its worst economic crisis. The country’s unemployment rate has risen above 30% and the currency has lost 80% of its value since October. This has had detrimental effects on Lebanese youth’ prospects. As a result, there have been widespread and violent protests which have elevated the security risk environment. 

In order to receive capital, talks are held with the IMF but these are unfruitful thus far. China has offered itself as an alternative for lending assistance. Although far from sure, such a move would be a remarkable shift in policy for the country regarded as one of the most Westernized countries in the Middle East.