Lebanon needs help

According to the latest World Bank Lebanon Economic Monitor report that “Lebanon Sinking: To the Top 3” worries and affects masses in the world, the economic and financial crisis is likely to rank in the top 10, possibly top 3, most severe crisis episodes globally since the mid-nineteenth century (“Lebanon crisis among ‘world’s worst’ since 1850s,” Gulf Today, June 2). Corruption is a form of dishonesty by a person or organisation entrusted with a position of authority, to acquire illicit benefit for one’s private gain. Subject to extraordinarily high uncertainty, real GDP is projected to contract by a further 9.5 per cent in 2021.

The complete meltdown of Lebanon’s economy over the past 18 months is widely blamed on corruption and mismanagement by the country’s hereditary political elite. Corruption may include many activities including bribery and embezzlement, though it may also involve practices that are legal in many countries. Tens of thousands have lost their jobs while many others left the country seeking opportunities abroad. Nearly half the country’s 5 million people live in poverty.

Omer Nassir
By email