Lebanon's New Poor Face Long-Term Economic Insecurity

Lebanon's New Poor Face Long-Term Economic Insecurity

Lebanon is a former middle-income country, one that is neither rich nor poor. But its financial system collapsed² in 2019.

The collapse¹ led to a great drop in the value of the Lebanese pound. And the United Nations says that event has led four out of five Lebanese people to become poor.

State services have broken down. Financial support to reduce the costs of goods has been removed. And tens of thousands of Lebanese have left the country seeking jobs in other countries. It is the biggest emigration wave since the 1975-1990 civil war.

Lebanese political leaders admitted that the crisis was the result of many years of wasteful³ spending and corruption⁴. And the World Bank called the crisis a "deliberate depression" created by those with political and financial power.

Now, economists⁵ say it will deepen if politicians delay passing reforms agreed with the International Monetary⁶ Fund (or IMF) in April. The passing of these reforms is required to unlock billions of dollars in aid.

However, public pressure for reform has largely passed. The pressure was at its highest during the 2019 protests and after the August 2020 Beirut explosion. The political parties that have ruled for much of recent history still won the greatest number of seats in May's parliamentary elections.

Mohammad Chamseddine is a policy expert at Beirut-based Information International. He said, "The Lebanese people accept and become used to all the economic, political and security conditions."

He noted⁷ that many now live on aid and the few hundred dollars their relatives working in other countries send back home each month, called remittances⁸. The flow has increased as some 200,000 people have emigrated since 2019, he said.

Meanwhile, basic state functions are increasingly supported by international aid sent to prevent total state failure. The World Food Program alone supports a third of the country's 6 million people with food and money aid. Hospitals, schooling⁹, and even security services are increasingly financially supported by international aid.

The economy has become a two-tier system. Those with money are known as the "fresh dollar class." They eat at restaurants or send their children to the best schools. And those who earn in the local Lebanese pound only have enough for simple needs.

One such Lebanese is Hussein Hamadeh. The 51-year-old is unemployed¹⁰ and unable to support his family of four. His two daughters studied in the light that came through a window at their unlit one-bedroom home.

Hamadeh said, "I have a very pessimistic view of the future. I take each day as it comes, there is no future for me."

A study by Gallup released last December found that some 63 percent of Lebanese said they would leave the country if they could.

Words in This Story

deliberate – adj. done or said on purpose

tier – n. a particular level in a group or organization

pessimistic – adj. having or showing a lack of hope for the future

1 collapse   

vi.累倒；昏倒；倒塌；塌陷

参考例句：

• The country's economy is on the verge of collapse.国家的经济已到了崩溃的边缘。
• The engineer made a complete diagnosis of the bridge's collapse.工程师对桥的倒塌做了一次彻底的调查分析。

2 collapsed   

adj.倒塌的

参考例句：

• Jack collapsed in agony on the floor. 杰克十分痛苦地瘫倒在地板上。
• The roof collapsed under the weight of snow. 房顶在雪的重压下突然坍塌下来。

3 wasteful   

adj.（造成）浪费的，挥霍的

参考例句：

• It is a shame to be so wasteful.这样浪费太可惜了。
• Duties have been reassigned to avoid wasteful duplication of work.为避免重复劳动浪费资源，任务已经重新分派。

4 corruption   

n.腐败，堕落，贪污

参考例句：

• The people asked the government to hit out against corruption and theft.人民要求政府严惩贪污盗窃。
• The old man reviled against corruption.那老人痛斥了贪污舞弊。

5 economists   

n.经济学家，经济专家( economist的名词复数 )

参考例句：

• The sudden rise in share prices has confounded economists. 股价的突然上涨使经济学家大惑不解。
• Foreign bankers and economists cautiously welcomed the minister's initiative. 外国银行家和经济学家对部长的倡议反应谨慎。 来自《简明英汉词典》

6 monetary   

adj.货币的，钱的；通货的；金融的；财政的

参考例句：

• The monetary system of some countries used to be based on gold.过去有些国家的货币制度是金本位制的。
• Education in the wilderness is not a matter of monetary means.荒凉地区的教育不是钱财问题。

7 noted   

adj.著名的，知名的

参考例句：

• The local hotel is noted for its good table.当地的那家酒店以餐食精美而著称。
• Jim is noted for arriving late for work.吉姆上班迟到出了名。

8 remittances   

n.汇寄( remittance的名词复数 )；汇款，汇款额

参考例句：

• He sends regular remittances to his parents. 他定期汇款给他父母。 来自《简明英汉词典》
• Remittances sometimes account for as much as 20% of GDP. 在这些国家中，此类汇款有时会占到GDP的20%之多。 来自互联网

9 schooling   

n.教育；正规学校教育

参考例句：

• A child's access to schooling varies greatly from area to area.孩子获得学校教育的机会因地区不同而大相径庭。
• Backward children need a special kind of schooling.天赋差的孩子需要特殊的教育。

10 unemployed   

adj.失业的，没有工作的；未动用的，闲置的

参考例句：

• There are now over four million unemployed workers in this country.这个国家现有四百万失业人员。
• The unemployed hunger for jobs.失业者渴望得到工作。