Lebanon’s financial crisis, and the delayed IMF bailout

The time zone confusion highlighted the depth of the country’s internal turmoil.

Lebanon is facing a financial crisis that ranks among the world’s three worst since the mid-19th century, courtesy decades of corruption and political derailment. Just days ago, the International Monetary Fund (IMF) warned that the country, where three-quarters of the population lies below the poverty line, is headed for hyperinflation.


The IMF, which recently doled out bailout packages to Sri Lanka and Ukraine, has been trying to etch a deal with Lebanon, but to little avail. Since it struck a preliminary deal last year, the Lebanese government has failed to introduce much-needed reforms on which the funding package is contingent.

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