As of 2020, Lebanon is officially going through its worst economic crisis in history. Due to the rampant corruption and taxes on federal loans, the government finds itself financially incapable and this is reflecting drastically on its citizens. Drowning with the weight of more than 80 billion dollars of debt, the situation will not seem to ameliorate anytime soon; the Lebanese Lira has reached its lowest rate, service corporations on which the economy almost entirely relies on are closing one after the other, and foreign aid will not be given until Lebanon shows promise of erasing the root of this crisis: corruption. That being said, delegates are supposed to cooperate as members of the International Monetary Fund in order to find the most suitable resolutions for this sinking nation.
The International Monetary Fund (IMF) – Solving the Lebanese Economic Crisis – July 10, 2020
- by livemunc