Disir
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- Sep 30, 2011
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The COVID-19 pandemic is inflaming an already severe crisis of inequality across the globe, according to a report released by aid group Oxfam International. Lebanon, now ravaged by economic, political and health crises, must enact drastic reforms in order to survive, economists say.
Lebanon has the third-highest debt-to-gross-domestic-product ratio in the world and is in need of extensive economic restructuring, Nasser Saidi, former minister of economy and trade in Lebanon, recently told the Malcolm H. Kerr Carnegie Middle East Center.
"If you look at other countries that have been in crisis — Greece, Argentina, Iceland — this goes well beyond that," he said. "We are seeing real GDP declining in 2020 by about 20 percent. It had already declined by 7 percent in 2019. So, this is a massive depression, even greater than that in the 1930s, in the Great Depression."
www.voanews.com
They would have to get their shit together. I don't see that happening.
Lebanon has the third-highest debt-to-gross-domestic-product ratio in the world and is in need of extensive economic restructuring, Nasser Saidi, former minister of economy and trade in Lebanon, recently told the Malcolm H. Kerr Carnegie Middle East Center.
"If you look at other countries that have been in crisis — Greece, Argentina, Iceland — this goes well beyond that," he said. "We are seeing real GDP declining in 2020 by about 20 percent. It had already declined by 7 percent in 2019. So, this is a massive depression, even greater than that in the 1930s, in the Great Depression."
Lebanon Must Enact Drastic Reforms to Survive, Economists Say
The country risks becoming a failed state if it does not address its own huge homegrown income inequalities, economists warn
www.voanews.com
They would have to get their shit together. I don't see that happening.
