These days the eyes of the world are stuck in three places. Russia-Ukraine war, political upheaval in Pakistan and pauperisation of Sri Lanka. In the crowd of these three news, the heart-wrenching truth of another country, which is as poor as Sri Lanka, has started coming to the fore. The central bank of this country has gone bankrupt.
Image Credit source: AFP
Lebanon Crisis: These days the eyes of the world are stuck in three places. Russia Ukraine war (Russia Ukraine War), political upheaval in Pakistan and Sri Lanka (Sri Lanka) of poor. In the crowd of these three news, the heart-wrenching truth of another country, which is as poor as Sri Lanka, has started coming to the fore. Yes, we are talking about Lebanon (Lebanon) Of. The central bank of the country has gone bankrupt. The value of the country’s currency has declined by 90 percent. The Deputy Prime Minister of the country has himself admitted that his country has come to the brink of poverty.
If we look at the collected data related to poverty in this country, then about 82 percent of the population here has become poor. Therefore, this country, being poor, has now appealed to the IMF for help. These shocking sensational facts have been disclosed by the country’s Deputy Prime Minister Sadeh al-Shami himself. He was recently talking to Saudi Arabia’s channel Al-Arabiya. Speaking to the channel, Lebanese Deputy Prime Minister Sadeh al-Shami said, “Unfortunately, the central bank (Banque du Liban) And our country means both have gone bankrupt. We want to find a strong solution to this problem as soon as possible.”
Lebanese deputy prime minister admits weakness
In a conversation with the channel, the Lebanese Deputy Prime Minister further said, “We have come to this plight due to the country’s decades-old absurd policies. If even now we have not done anything, then how much more damage can we have to bear? Can’t say anything on this at the moment. These are some important facts which we cannot ignore. How do we turn our backs on situations? We are not even able to make arrangements for withdrawal of money from banks for all the people. I wish we were in normal condition. We are in constant touch with the International Monetary Fund even in these worst circumstances. So that immediate help can be obtained.
The condition is bad since 2019
It is noteworthy that Lebanon has been struggling financially since October 2019. All this has been seen only because of the corruption and mismanagement spread in the ruling political party. The Lebanese government knew everything. But she kept sitting on her hand. And today the country has also become poor. The value of the local currency has fallen by 90 percent, which is enough to measure the weakness of the financially broken back of any country. Due to the fall in currency value, inflation has increased wildly in the country. Just like the condition of India’s neighboring friendly country Sri Lanka. Talking about Lebanon, today the countrymen are not getting even enough bread.
Wherever you look, there is a situation of misery
Most of the citizens are completely deprived of health facilities. Not even a trace of education is left far and wide. Due to lack of fuel, people have been forced to stay in their homes in the dark at night. In fact, it is also necessary to mention here that Lebanon is one of those countries which are dependent on imports. Due to the economic crisis, the foreign exchange reserves of the country are also lying empty. Therefore, Lebanon today has not been in a condition to get goods from abroad. Talking about unemployment in the country, it has increased to 40 percent.
Which is enough to measure the ruin of any country. The Corona epidemic has done the right thing. In the year 2020, a horrific explosion at a port in Beirut brought the economic crisis to an even more dangerous position. It is said that more than 200 people were killed in that explosion. That incident also broke the country badly. The capital Beirut was also shaken by that explosion.
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