The economic crisis in Lebanon

 When a country takes the path of showy growth, rampant corruption and dependence on foreign loans instead of sustainable economic development, sooner or later the situation is similar to Lebanon. This bad situation has been going on for twenty months but it does not seem to end. The country is without electricity for several hours a day. There is a shortage of diesel due to which even generators for electricity cannot be run. Hospitals are without electricity. Medicines and medical devices have become scarce. Often painkillers are not even available at medical stores. There is a severe shortage of everything in the country because most of the essentials in Lebanon are imported from foreign countries. There are long queues of vehicles at petrol pumps so that petrol can be delivered when it arrives. The situation is so bad that even the traffic lights on the streets of Beirut remain closed due to lack of electricity. Lebanon used to be a center of tourism. Not anymore. The Lebanese army is feeding its troops with foreign aid. The army is renting helicopters for tourists to generate some income. Most of the people are seen protesting and vandalizing the city streets. The World Bank says Lebanon is experiencing a severe economic crisis that has not occurred in any other country in the world in 150 years. The country has high inflation and is rising further. The Lebanese currency (pound) has depreciated so much that the purchasing power of the people is much lower than before. In two years the currency has depreciated by 90%. Was equal to Now one US dollar is equal to twenty thousand Lebanese pounds. Lebanon's upper middle class has also become beggars. The rich have become poorer. University teachers, doctors and company managers are also on the list. According to international media reports, in Lebanon, where charitable food is distributed, people line up in their Mercedes and BMW cars to get food. Rice and cooking oil have become scarce. In order to get these things, the upper middle class people go to charitable places. The condition of the people who were already poor is even worse. The gap between rich and poor has been greater in Lebanon than ever before. Now, due to the economic crisis, half of the country's population has fallen below the poverty line. According to the United Nations Children's Fund (UNICEF), 70% of Lebanese people either do not have food or money to buy food. Due to the economic crisis, banks have banned withdrawals. A large section of Lebanese had opened accounts in US dollars. When the economic downturn started, the banks froze these accounts so that people would not come together to get dollars. Lebanon's gross domestic product (GDP) was پچ 55 billion three years ago, down from ارب 33 billion last year. 40% per capita GDP has fallen. The unemployment rate was 40 per cent a few months ago, meaning that four out of ten eligible people do not have any kind of job or business. Lebanon is the world's third-largest debtor by external debt. Along with the economic catastrophe, the country is going through a political crisis. Surprisingly, despite such a catastrophic economic crisis, politicians have not been able to resolve their differences. Fighting for more power. Saad al-Hariri has been caretaker prime minister for eight months and has been working to form a coalition government. A few days ago, he resigned and admitted his failure to form a government. He was preceded by the government of Prime Minister Hassan Ziab. He resigned last year after a bomb blast at a Beirut port. in the incident.two hundred people were killed Lebanese politics revolves around three major religious groups, including Christians, Sunni Muslims and Shia Muslims. There are also some small religious groups, such as the Druze and the Jews. The Lebanese constitution divides major political positions on sectarian grounds. The presidency of Lebanon is held by Christian politician Michel Aoun, who is allied with the Shiite organization Hezbollah. Saad al-Hariri represents Sunni Muslims. He could not get the support of another faction to form a government. His position is that President Aoun and Hezbollah are not showing any flexibility on the issue of the cabinet. The president will now nominate a new interim prime minister. According to the Lebanese constitution, a Sunni Muslim is required to become prime minister. Saad al-Hariri had Saudi support some time ago, but not now. However, Egypt is a big supporter of them. It does not look like any Sunni politician will take office without the consent of Saad al-Hariri. Therefore, the political crisis is likely to drag on. The model of Lebanon's economic development was the same as Pakistan's three years ago. Excessive expenditure on income and exorbitant financial corruption from top to bottom among those running the government and refraining from paying taxes to the rich class. Lebanon's economic growth was a bubble that was about to burst one day. The international community (including the United States and France) can help Lebanon improve the situation, but only if the political crisis is resolved, a permanent prime minister takes office and economic reform begins. On the one hand, Lebanon's economic bankruptcy and political instability are also in the interests of the world imperialist powers because it is connected to Israel, America's favorite country. Here, Hezbollah had chewed Israel up. Lebanon is weak and weak