He added that there is no specific percentage in the distribution of losses. The collapse began in October 2019 and has thrown more than 75 percent of the country’s population into poverty. The same political class blamed for the decades of corruption and mismanagement that led to the crisis did almost nothing to help Lebanon out of the crisis. Banks imposed informal capital controls, which deprived people of access to their savings. Lebanon began talks last year with the International Monetary Fund, which stalled without progress amid political differences between rival groups, and then resumed the talks in January.

Source: Egypt Independent April 04, 2022 20:09 UTC