Wednesday, June 30, 2021
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Op-Ed: The dichotomy of Lebanon’s social protection and currency crises – Part 2

The views, thoughts and opinions presented in this Op-Ed belongs to its author(s). They are not necessarily shared by socialprotection.org.

This blog is part of a Better Assistance in Crises Research programme series exploring the implications of Lebanon's ongoing fiscal crisis for social protection.

The latest World Bank Lebanon Economic Monitor placed Lebanon’s fiscal collapse within the top ten most severe crises since the 1850s. The Lebanese pound has lost somewhere between 80 to 90 per cent of its value, showing little sign of recovery. This means that even those employed are suffering from plummeting purchasing power, given that the majority are paid in Lira.

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