The Lebanese Crisis
The year of 2020 was one of the hardest years for the Lebanese people. Not only did they face political instability, a global health pandemic, the explosion of the 4th of August, but they also had to deal with an economic crisis that led to high unemployment rates, poverty, and worst of all to the devaluation of the Lebanese pound.
Consequently, the Lebanese Lira has lost more than 80% of its value (Taha, 2021). The unofficial exchange rate of the Lebanese pound against the dollar climbed from 1,507 all the way up to almost 15,000 LBP (Iskandarani, 2021). However, Lebanon’s economic crisis did not happen overnight. So how did it reach this point? What is the impact of such an economic crisis on the Lebanese on different economic, social, health, educational and immigration aspects?
Thus, it is important to understand the factors leading to the current economic crisis and its implications on the people’s lives; in hopes that all the Lebanese citizens and officials will be encouraged to take action to overcome the obstacles and make Lebanon flourish again.
