20 Lebanese schools to shut down, 10,000 teachers to lose jobs amid economic crisis

LEBANESE-CURRENCY
LEBANESE CURRENCY- 100,000 LL was worth about $66 when the Lira was pegged at the rate of about 1500 LL to the US dollar . Now it is worth about $4.00 in the parallel market and has less purchasing power than $ 3 because of hyper inflation . People also cannot access their deposits at banks because of the corrupt Ponzi scheme set by the Central bank governor with the backing of the corrupt ruling elite
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Around 20 private schools in Lebanon will close down and 10,000 teachers are expected to lose their jobs, Elnashra, an online independent newspaper, reported Tuesday.

LEBANESE CURRENCY- 100,000 LL was worth about $66 when the Lira was pegged at the rate of about 1500 LL to the US dollar . Now it its worth about $13 in the parallel market and has less purchasing power than $10 because of hyper inflation

Schools have been facing difficult financial conditions amid the collapse of the Lebanese pound price against the U.S. dollar affecting the purchasing power of citizens and their capability to pay tuition fees.

Around 60 percent of parents are incapable of paying tuition fees in the coming academic year while only 35 percent paid their dues to schools, Elnashra noted.

A big number of people are considering transferring their children to public schools to avoid paying tuition fees.

However, Lebanon does not have enough public schools to offer services to all students.

XINHUA

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