Author: Siba Mroueh
Since the outbreak of protests in October 2019, Lebanon has plunged into a severe financial crisis, ranking among the worst globally since the mid-19th century, according to a World Bank official. Lebanese citizens witnessed the perplexing and surreal scenario of their life savings vanishing from banks, a crisis closely followed by the onset of the COVID-19 pandemic. Corruption further exacerbated the situation, culminating in the devastating Beirut Port explosion in 2020, which dealt a crippling blow to one of Lebanon’s key economic pillars.
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