World Bank blames Lebanon for 'deliberate' economic crisis
The World Bank accused Lebanon’s elites of conducting “Ponzi finance” and deliberately pursuing harmful fiscal policies. Meanwhile, the Beirut port has caught fire again.
The World Bank released another report on Lebanon’s dire economic crisis today, a day before the two-year anniversary of the Beirut port explosion.
The DC-based institution titled its Lebanon Public Finance Review “Ponzi Finance?” referring to the Ponzi fraud scheme whereby new investors are paid with funds from old investors. The report began with a “message” to the Lebanese people in English, Arabic and French. In the message, the World Bank called Lebanon’s crisis “deliberate."
