ASSESSMENTS
In Lebanon, All Roads Lead to Austerity
Oct 7, 2019 | 09:00 GMT
(JOSEPH EID/AFP/Getty Images)
Highlights
- Deep economic problems leave Lebanon has few options but to enact austerity measures, but reforms would come at a severe political cost.
- Even if Beirut does implement painful reforms to unlock promised investment, lower- and middle-class Lebanese would be unlikely to benefit in the near term, as the measures would focus more on necessary infrastructure upgrades.
- A combination of their own economic issues and political considerations will leave Lebanon's traditional patrons, like Saudi Arabia and Iran, less likely to bail the country out so that it doesn't have to pursue austerity.
Proceed to sign up
Register NowAlready have an account?
Sign In