Lebanon: A Country in Economic Crisis
The timing of the explosion in Beirut could hardly be worse, with Lebanon currently enduring an unprecedented economic crisis
Even before the devastating blast in its capital city Beirut yesterday, Lebanon was a country in crisis on a number of fronts. The explosion in the port area of the city has claimed the lives of at least 100 people, injured thousands and caused widespread destruction. President Michel Aoun said the cause was 2,750 tonnes of ammonium nitrate which was being stored unsafely in a warehouse.
The timing could hardly be worse, with Lebanon currently enduring an unprecedented economic crisis, pushing large numbers of people into poverty and triggering the largest anti-government protests in over a decade. As this infographic shows, IMF estimates put the country’s national debt at 162 percent of GDP in 2020 – the fourth highest in the world.
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