Deliberate Depression News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Only coordinated US and EU sanctions may prevent Lebanese leaders from driving the country into the void.

Refugees need help, to be sure, but the biggest problem for Lebanon’s economy has been systemic corruption.

The World Bank called Lebanon’s crisis a Great Denial in the Deliberate Depression, accusing the country’s elite of orchestrating it and living off its economic rents.

A 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...

“Policy responses by Lebanon’s leadership to these challenges have been highly inadequate,” the report said. Lebanon’s ruling class has failed to act on the country’s worst emergency in a generation, which was compounded by the coronavirus pandemic and a devastating explosion at Beirut port last August. This picture shows the grain silos at Beirut port, almost a year after the August 4 massive explosion that killed more than 200 people and injured scores of others, on May 27, 2021. (Joseph EID / AFP) The International Monetary Fund has offered assistance but the country’s politica...