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Middle East matters

Coronavirus pandemic: Can Lebanon afford a shutdown?

MIDDLE EAST MATTERS
MIDDLE EAST MATTERS © FRANCE 24

Lebanon is facing an unprecedented financial crisis, amid months of widespread public discontent. It's now confronted with the COVID-19 outbreak and its potential economic repercussions. Earlier in March, Lebanon failed to repay $1.2 billion in outstanding bonds. The country is also struggling to cope with dwindling foreign currency reserves and double-digit inflation. We speak to Dan Azzi, a former chairman of Standard Chartered Bank. He explains that the restrictions imposed around the world due to the coronavirus pandemic are, ironically, somewhat positive news for Lebanon.

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