Secretary General of the Association of Banks
Financial, economic, and social indicators show the extent of the deterioration in the financial sector and the economy. Most of the deterioration is attributable to the failure and appalling absence of public policies at a time when the country seems to be in dire need of more of these policies due to the three escalating and intertwining crises that it is facing.
Multiple crises
crisis surfaced when the government declared a national bankruptcy in its decision to default on its external and even domestic obligations. one is the coronavirus pandemic which has caused a decline in economic activity. crisis is the continuous deterioration of the country’s monetary conditions, especially the collapse of the exchange rate of the Lebanese lira and the ensuing multiple exchange rates and crisis of confidence in the entire financial sector. Furthermore, the deficit in the balance of payments has widened, despite the decline in the import of goods and of the spending on related services such as
