Lebanon's top Christian cleric has criticized the nation’s politicians for not stabilizing the government as the country, once known by some as a haven for Christianity in the Middle East, faces severe financial and political instability.
Welcome to the week in numbers, where we break down the biggest economic and business news stories of the week so you can impress yourself and your friends.
We’ve kicked off June with big stories on the effort to create a new Black Wall Street 100 years after the racially charged Tulsa massacre in the United States; on Lebanon’s descent into what could rank as one of the world’s three worst economic crises in 150 years; and on stubbornly high worldwide job losses, among other news.
So pour yourself another cup of coffee (or take the one you forgot about out of the microwave) and get your scrolling thumb ready.
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Lebanon s suffering from one of the world’s three worst economic crises since the middle of the nineteenth century has not provided an incentive sufficient to compel the political clique imposing its control over the country to take steps to prevent the exacerbation of the comprehensive collapse.
The World Bank’s Lebanon Economic Monitor issued two reports, ‘Lebanon Sinking (to the Top 3)’ -Spring 2021 and ‘The Deliberate Depression’ -Fall 2020, which explain, without mincing words, the reality of the ongoing political and economic catastrophe. The new report, published in full on Tuesday, June 1, in English, completes the work that the previous report had begun, collecting more data about the situation in Lebanon.