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In Lebanon, All Roads Lead to Austerity

Oct 7, 2019 | 09:00 GMT
A picture taken on Aug. 8, 2019, in Beirut shows the front pages of the Lebanese English-language Daily Star, which refrained from printing any news in protest against the country's

A picture taken on Aug. 8, 2019, in Beirut shows the front pages of the Lebanese English-language Daily Star, which refrained from printing any news in protest against the country's "deteriorating situation." Lebanon's economy is close to collapse.

(JOSEPH EID/AFP/Getty Images)

Lebanon is facing a Herculean task to escape its economic malaise. For decades, Lebanon has maintained a hefty current account deficit to finance substantial government spending, much of which funds a social safety net that keeps the sociopolitically diverse country from falling apart. But plummeting consumer sentiment, slowing capital inflows,...

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