Babel: Translating the Middle East
Haneen Sayed: Lebanon's Economic Crisis
Aug 22, 2023
Dr. Haneen Sayed discusses the roots of Lebanon's economic crisis and how the international donor community can help. The conversation explores the effects of sectarianism on Lebanon's political economy and the legacy of protest and civil war.
32:04
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Quick takeaways
- The economic crisis in Lebanon is rooted in the unwillingness of Lebanese politicians to implement economic and political reforms, resulting in the collapse of the public sector and extreme inflation.
- Lebanon's unique social contract, shaped by sectarian politics, has led to a lack of strong national institutions and prioritization of sectarian interests, hindering systemic change and causing grievances among different sectarian groups.
Deep dives
Lebanon's Economic and Political Crisis
Lebanon is currently facing a multi-year economic and political crisis. The country's economic relief, offered by international donors, is contingent upon economic and political reforms that Lebanese politicians have been unwilling to make. This has resulted in a collapse of the public sector, a significant reduction in GDP, and extreme inflation. Basic services such as education, healthcare, and electricity are not being adequately provided, further impoverishing the population. The absence of a functioning government and the fear of a return to war contribute to the lack of political change. The international community is pressuring Lebanon to implement reforms in order to receive financial assistance, but progress has been slow.
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