Lebanon’s economy has been pushed to the brink of collapse, with the Lebanese pound losing 85 percent of its value since anti-government protests broke out in October 2019. Decades of government corruption and financial mismanagement has resulted in Lebanon reaching its worst economic, financial and monetary crisis since the 1970’s, as Dima de Clerk, historian at the American University of Beirut and fellow researcher at the French Institute for the Middle-East, tells FRANCE 24.
(FRANCE24)
On what basis should we expect the US or any country to forgive the debt ? Lebanon is not indebted to US or any particular country . Lebanon borrowed money by issuing bonds which it defaulted on . These bonds are owned by people( and companies) from all over the world . Lebanon also stole the funds of the depositors who are also people ( and companies) from Lebanon and al ll over the world .What we need from the US and European countries is to identify and return the funds stolen by the corrupt Lebanese politicians and officials
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