No end in sight for Lebanese suffering amid deteriorating economic crisis
Lebanon’s ruling elite has yet to form an urgent government to launch reforms to address the country’s worst economic crisis in decades, amid ongoing political bickering.
Six months after the resignation of the Lebanese government headed by Hassan Diab in the wake of the Aug. 4 Beirut port explosion, instability is still at center stage in Lebanon. A new government has not yet been formed and public anger is rising due to the economic situation. Meanwhile, demonstrators have been blocking roads in many Lebanese areas in protest against the deteriorating situation.
The economic situation in Lebanon has been going downhill since August 2019 after the Lebanese currency fell in value, going from 1507.50 to 1,585 to the dollar, sparking massive nationwide protests, which were further fueled by government plans to impose taxes on fuel, tobacco and voice calls made through WhatsApp and other apps.
