Lebanon Economy

Lebanon’s annual inflation rate is the highest in the world, according to Bloomberg data. Through Ainhoa ​​Goyeneche and Dana KhraicheBloomberg Lebanon’s annual inflation rate has reached the highest of any country Bloomberg tracks, overtaking Zimbabwe and Venezuela, as the financial crisis in that Middle Eastern country deepens. The consumer price index rose 137.8 percent from …

(Add details, background) By Marc Jones LONDON, Sept.21 (Reuters) – A group of Lebanese bondholders, including some of the world’s largest investment funds, on Tuesday urged the new government to start debt restructuring talks as soon as possible to help deal with the country’s severe financial crisis. Lebanon defaulted on its international debt in March …

Beirut, Lebanon – Lebanon’s new government won a confidence vote in parliament on Monday, after promising to quickly resume the International Monetary Fund (IMF) rescue talks and launch a series of reforms to pull the country out of the deepening economic crisis . Some 85 lawmakers gave their vote of confidence to Prime Minister Najib …

The Lebanese parliament met on Monday to vote in the cabinet of Prime Minister Najib Mikati, responsible for pulling the country out of a deep economic crisis, during a session delayed by a power cut. No major objections were expected to Mikati’s ministerial makeup from the main political blocs, as Lebanon is in desperate need …

Sky News released this video clip, titled “Inside one of Lebanon’s troubled hospitals” – below is their description. Doctors are struggling to meet demand for drugs in Beirut’s cancer wards as the economic consequences for Lebanon continue to worsen. The World Health Organization has again warned that hospitals are only operating at 50% of capacity …

RAMALLAH, Saturday, September 18, 2021 (WAFA) – The Minister of Labor of Lebanon’s new government, Mustafa Bayram, said today that he supports changing laws that discriminate against Palestinian refugees living in his country. He told Palestine TV that he would do everything possible to ensure that the Palestinian people do not remain subjected to injustice …

IMF spokesman Gerry Rice said Thursday that there had been courtesy calls with members of the new government and that the Fund was ready to engage in the period ahead. Talks between the previous government and the IMF collapsed last year. The World Bank says Lebanon’s economic crisis is one of the worst on record. …

The lingering economic crisis in Lebanon threatens to undo decades of progress in the well-being of the population, the WHO chief said on Friday, adding that international aid was urgently needed to deal with the ” dire situation ”. Speaking during his visit to the Middle Eastern country, Tedros Adhanom Ghebreyesus highlighted the crisis in …

In his first interview with an international media outlet since the formation of a government a week ago, Mikati admitted that some Lebanese would find it difficult to trust him and his government after so many politicians failed them in the pass. But, he told CNN, it is “time to have a government” to make …

Lebanon resumes a long-awaited forensic audit to shed light on the financial disaster that plunged the country into crippling economic collapse. Lebanese President Michel Aoun signed a decree on September 1, 2021, to allocate 4.9 billion Lebanese pounds (2.7 million euros, $ 3.2 million) to the global professional services firm Alvarez & Marsal (A&M ) …