Lebanon on Verge of Social Explosion
Features
Beirut – Caroline Akoum
Stifling economic conditions, which were exacerbated by the outbreak of the novel coronavirus, have put Lebanon on the verge of a social explosion. After long months of economic suffering, which was translated in the sharp devaluation of the local currency against the US dollar in the parallel market and severe restrictions on deposits withdrawals, the 50-day-old confinement added a compounded burden, especially to the most vulnerable segments of society. The World Bank had warned at the end of 2019 that 50 percent of the Lebanese people would fall below the poverty line. On Friday, Minister of Industry Imad Haballah announced that the poverty level in Lebanon reached 55 percent based on the World Bank’s estimates, emphasizing a high unemployment rate, liquidity crisis and deficit in the trade balance. The country’s authorities, meanwhile, have so far failed to set a clear plan to prevent an implosion. Sociology Prof. Mona Fayad said that the Lebanese people would not hold out much and would return to the street even before the end of the coronavirus confinement measures, after losing any hope for change. “While the coronavirus crisis had a negative impact on the economies of the world, we have been witnessing the downfall before the spread of the epidemic that came to deepen our crises, while the government is watching idly,” she noted. In remarks to Asharq Al-Awsat, the director of the Levant Institute for Strategic Affairs, Sami Nader, said: “Lebanon has entered the stage of economic collapse… The fall into the abyss has become inevitable. Things went out of control, and the evidence of that is the exchange rate of the dollar, which reached almost LBP 4,000.” He continued: “The government is still unable to set up a reform plan. They dealt with the situation as if they had plenty of time while the Lebanese anxiously search for their livelihood and fear the spread of the epidemic, which in turn wiped out the remaining jobs and institutions and led to the dismissal of thousands of employees.” Nader warned that food products would soon become scarce as a result of the sharp rise of prices. “The Lebanese people, who have broken the barrier of fear for their health, will ignore the general mobilization measures and move against the authority. They will not remain silent for long and will take back to the street, rejecting this reality,” he remarked.
from Asharq AL-awsat https://aawsat.com/english/home/article/2251981/lebanon-verge-social-explosion
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