{"id":11255,"date":"2021-06-13T22:17:36","date_gmt":"2021-06-14T01:17:36","guid":{"rendered":"https:\/\/bambisafkar.ca\/?p=11255"},"modified":"2021-06-13T22:55:20","modified_gmt":"2021-06-14T01:55:20","slug":"how-will-tiny-bankrupt-yet-resilient-lebanon-survive-the-loss-of-90-of-its-currencys-value-since-late-2019","status":"publish","type":"post","link":"https:\/\/bambisafkar.ca\/index.php\/2021\/06\/13\/how-will-tiny-bankrupt-yet-resilient-lebanon-survive-the-loss-of-90-of-its-currencys-value-since-late-2019\/","title":{"rendered":"How will tiny bankrupt yet resilient Lebanon survive the loss of 90% of its currency\u2019s value since late 2019?"},"content":{"rendered":"\n
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From a Reuters <\/em>article (https:\/\/www.reuters.com\/world\/middle-east\/lebanon-currency-drops-new-low-financial-meltdown-deepens-2021-06-13\/<\/a>) we learn that \u201cLebanon\u2019s currency crashed past a milestone on Sunday reaching a new low against the dollar, as the country\u2019s financial meltdown and political deadlock linger<\/em>\u201d.<\/p>\n\n\n\n

In addition, we read the following: \u201cmarket dealers said the Lebanese pound was trading at around 15,150 to the dollar, losing around 90% of what it was worth in late 2019<\/em>\u201d.<\/p>\n\n\n\n

Given all this, it is not surprising that some Lebanese hospitals are now \u201cruling out elective procedures and only performing emergency surgeries to ration what is left of medical supplies<\/em>\u201d.<\/p>\n\n\n\n

Moreover, the majority of pharmacies closed their doors to stage a two-day-strike because medications run out. Indeed, Bambi\u2019s parents have been recently visiting up to 10 different pharmacies in Beirut in order to find their badly needed medication.<\/p>\n\n\n\n

Even gas is running out. Sadly, Lebanon lacks a fully functional transportation system. Luckily, some citizens are increasingly relying on a “Vespa” or their bike to get to work. Of note, both citizens and their hospitals need gas to keep their generators turned on because the government’s power is available only for a few hours per day (and this is not a new story!).<\/p>\n\n\n\n

According to Reuters, \u201chours long car queues for gasoline have frustrated motorists causing squabbles<\/em>\u201d. Sure the latter is frustrating, but for Bambi, perhaps the most disturbing part of this article is the the endless irresponsibility<\/span> of the Lebanese political \u201cleaders\u201d: \u201cThe financial collapse is taking place against a backdrop of fractious politicians bickering over cabinet formation\u201d<\/em>!<\/p>\n\n\n\n

To conclude, Bambi is lacking words to end this post. What can she say more about this ongoing Lebanese tragedy, ranked among the world’s three worst since 1850s (https:\/\/abcnews.go.com\/International\/wireStory\/world-bank-lebanons-crisis-worlds-worst-1850s-78013372<\/a>)? <\/em>If you do not mind, she would like end this post, devoted to her birth country, with a famous song by Fairuz, which is entitled “I love you Lebanon<\/em>” (sub-titled in English)… <\/p>\n\n\n\n

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