Lebanon Economic Collapse. 264% Inflation, Debt Default, Currency Devaluation, Banks Shut- Joe Blogs

[TexasTowelie]

LEBANON is in a state of Total Chaos. The Economy has COLLAPSED with Inflation now at 264% and completely out of control. Lebanon DEFAULTED on its Debt Obligations in March 2020 and over the last 3 years the situation has got much worse. Lebanese Banks are REFUSING to allow customers to withdraw their money and have shut their doors after numerous HOLD UPS. The IMF have agreed a $3 BILLION Bailout Deal however no money has been released as Lebanon needs to introduce a variety of reforms. The first of these was the recent DEVALUATION of the Currency which has led to further DOLLARIZATION in the Economy. In this video I bring you the full story and discuss what is likely to happen in Lebanon in the next 3 to 6 months.

[SWBTATTReg]

1. Thanks. I've bookmarked. Have a place in my heart for this Country, had wonderful friends from

Lebanon (the Country) when I was growing up. It's so sad to see this happening...at one time, they were the jewel of the Middle East it seemed like.

Again, thanks.

[TexasTowelie]

2. You're welcome.

They are definitely in a sad and desperate situation.

[dalton99a]

3. A huge problem is rampant corruption and looting by public officials

BEIRUT, April 27 (Reuters) - European investigators in Beirut questioned an assistant to Lebanon's central bank governor on Thursday as part of a probe into whether the governor embezzled and laundered hundreds of millions of dollars in public funds, local media and a judicial source said.

Governor Riad Salameh is being investigated in Lebanon and in at least five European countries over allegedly taking more than $300 million from the central bank together with his brother over more than a decade.

A schedule for the European investigators seen by Reuters showed Marianne Houayek, 42 and a longtime assistant to the governor, was to be questioned as a suspect in the case. Others were set to be questioned as witnesses.

https://www.reuters.com/business/finance/european-investigators-question-lebanon-cbank-chiefs-assistant-fraud-probe-2023-04-27/

[gotham]

4. Just Desserts

Let's see. A muslim dominated country establishes a terrorist army on its southern border. Said terrorist army obtains hundred of million dollars annually from other islamic terrorist states and proceeds to take over said country politically militarily and administratively. Now said country has been ruined and Lebanon aka "Hezbollahstan" has nobody to blame except itself.

Just Desserts.