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Lebanon Recession


According to the United Nations Children’s Fund, Unicef, Lebanese children are bearing the brunt of the economic collapse, political stalemate and the contagion of Covid-19 in their country. “A series of mutually reinforcing crises, including a devastating recession, have left families and children in Lebanon in dire straits, affecting just about every aspect of their …

“With no improvement in sight, more children than ever are going to bed hungry in Lebanon,” said Yukie Mokuo, UNICEF representative in Lebanon. “Children’s health, their education and their very future are affected as prices skyrocket and unemployment continues to rise,” she said. “More and more families are forced to resort to negative accommodation measures, …

The Lebanese military will start offering scenic helicopter flights over the crisis-ravaged country to raise much-needed additional funds as crippling inflation has left soldiers’ salaries worth just £ 60 per month . Fifteen-minute flights in a Raven helicopter for up to three passengers will be offered starting July 1 and will cost $ 150 per …

ECONOMYNEXT – The Sri Lankan Rupee is barely traded on official interbank markets after total transactions were banned above an unreliable peg of 200 for the US dollar, but parallel foreign exchange markets come into play, as they had done so in previous episodes of money printing, the market participants say. Sri Lanka’s interbank foreign …

Authors: Nizar Aouad, Dana Abed On August 4, 2020, Lebanon was ravaged by a catastrophic explosion in the port of Beirut, killing more than 200 and injuring 6,500, and causing massive destruction within a 10 km radius of the explosion site. Primary data collected from LGBTQI-focused civil society organizations (CSOs) and gay individuals immediately after …

Queer communities in Lebanon have few safe spaces left and have been among the hardest hit by the combined impacts of the Beirut explosion in 2020, the COVID-19 pandemic and the ongoing economic crisis , a new Oxfam study warned today. The combination of crises has destroyed entire neighborhoods where queer people have taken refuge …

Theocracy and Elections: The Iranian Way Rakesh Sood Iran last Friday elected its eighth president since the 1979 Islamic revolution that ended the Pahlavi dynasty. As expected, Ebrahim Raisi, the head of the judiciary since 2019, is expected to succeed President Hassan Rouhani on August 3. Given Iran’s complex governance structure of a theocracy with …

The path to a full-scale constitutional challenge to Obamacare is more or less closed, but smaller attacks on the law are still expected after the Supreme Court’s 7-2 ruling yesterday to uphold it. “There won’t be a big omnibus challenge to the entire law, but there will always be ongoing litigation regarding the administration and …

Largely stranded in their dollar deposit accounts since late 2019, when the Lebanese pound collapsed and the banking system collapsed amid widespread political protests, some savers are seeing investments in money-driven businesses. ‘export as a way to access hard currency and get something for their “lollars,” the nickname for US dollar-denominated deposits “trapped” in Lebanese …

As COVID-19 cases in New Hampshire continue to decline, state officials relaxed mask guidelines on Thursday, recommending that anyone without symptoms of the virus be able to dispense with masks in most indoor and outdoor locations. State epidemiologist Dr Benjamin Chan told the state’s weekly press conference that people with compromised immunity should continue to …