Home LeadersExistential warfare: The year of truth and shock

Existential warfare: The year of truth and shock
ENAR

by Thomas Schellen

Sadly, but also realistically, one could not blame an economic analyst for pronouncing Lebanon a lost cause in 2020. The numbers are not only disturbing, but unrestrainedly disastrous. Moreover, these numbers not only exist in arcane accountancy details, but they prevail wherever one cares to look, whether that is the macro-economy or fiscal realities. And the reforms are talked about. They go round and round, these reform promises, like a little white elephant on a dream-like carousel. Yet even in the depths of the deepest currency troubles, one can postulate an upside. Hyperinflation, for example, was but a moment in July. The rest was severe, but technically, regular inflation. Note, remittances to developing countries are down globally, according to international estimates, but not by as much as had been feared earlier this year. In the context of contracted GDP and the exchange rate, the contribution of diaspora remittances to GDP

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