Main menu


United Nations: Lebanon is facing one of its worst financial and economic crises

Najat Rushdie, Deputy Special Coordinator and Resident Coordinator of the United Nations and Humanitarian Coordinator in Lebanon, confirmed that Lebanon is facing one of its worst financial and economic crises in its modern history and is grappling with economic and financial collapse, as the United Nations estimates that during the next eight months, about 300 million are needed US dollars to cover the basic needs of 1.5 million Lebanese and 400,000 migrant workers affected by the ongoing crisis.

The UN official said, according to the United Nations Information Center, "The explosion in the port of Beirut has accelerated a lot of things, and this is certain," noting that the reforms were not implemented on time. It should have started already in 2018 - if not in 2018, it should have started in 2019 - emphasizing that many analysts already predicted the economic and financial crisis before it happened.

She explained that between April 2019 and April 2021, the consumer price index rose by more than 208 percent and the price of food and beverages increased by 670 percent. As a result, more than half of the Lebanese people now live in poverty.

The UN official stressed that the development of Lebanon is the responsibility of the Lebanese, and not the responsibility of the international community. Demanding that there be a decision to put the interest of the country and the interest of the Lebanese at the top of the government's priorities.

The United Nations Resident Coordinator and Humanitarian Coordinator in Lebanon, Najat Rushdie, refuted the causes of the political, social, economic and humanitarian crises that Lebanon is facing today, stressing that the failure to form the government had a tremendous impact on confidence in the first place, as no single investor would be willing to come to Lebanon, what There was not at least very clear confidence in the banking system, and in institutions.

The UN official stated that extreme poverty in Lebanon recorded a threefold increase from 2019 to 2020. As more and more Lebanese families are unable to afford basic services such as food, health, electricity, water, internet and education, Lebanon has become in a stage of hyperinflation, which has led to The erosion of the value of the national currency, the purchasing power of individuals, and what remains of their confidence in their leaders and institutions.