The Lebanon Economic Crisis


Lebanon is a country in the Middle East currently facing an uproar in the media due to a heart-wrenching explosion occurring in the capital of Lebanon, Beirut, on Tuesday where 154 individuals were killed, and thousands were injured. Today we will be discussing the economic crisis occurring within the country itself.


The underlying question is: what exactly is the cause of all the economic disparity within the country? In 2019, the Lebanese currency, also known as Lira, had lost 80% of its value. The solution that the Lebanese government came up with was to tax their citizens on the following items: Petrol, WhatsApp, and even Tobacco. This tax created an uproar of frustration and eventually led to countless protests by the Lebanese citizens.


The Lebanese citizens are frustrated due to the tax, and the overall economic downfall leading to the Lira lacking in almost any value. This makes it hard for citizens to acquire basic items to survive. In addition, a newfound gap has emerged between social classes. The middle class is slowly disappearing, and more people are becoming either very rich or very poor.


How to help: There are countless ways you can help from home. Whether that be to donate or to educate yourself on these issues. The Lebanon Red Cross is the most relatable way to donate.



http://www.redcross.org.lb




Sources:


@arabsforjustice on instagram


https://www.cnn.com/middleeast/live-news/lebanon-beirut-explosion-live-updates-dle-intl/index.html


https://www.bbc.com/news/world-middle-east-53390108


https://www.nytimes.com/2020/08/05/world/how-to-help-lebanon-beirut.html


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