The Lebanese Economy is expected to contract by 20% this year. Inflation has reached over 100%. But why?

A small nation on the shores of the Mediterranean, Lebanon is one of the most diverse nations on earth. Once called the Switzerland of the Middle East, Lebanon was known for its banking sector. Yet now it finds itself having defaulted on its debt for the first time ever. Something it didn’t even do during the height of its 15 year civil war.

But how has it defied economic gravity for so long?

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#Lebanon #LebanesePound #Beirut

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