LEBANON HAS BECOME A TICKING TIME BOMB: The Lebanese pound, pegged to the dollar at 1,507 since 1997, is now trading at 17,500 to the greenback. Weeks before it reached this new low, the World Bank had said Lebanon’s crisis was the worst in the world since the mid-19th century. In fact, according to latest reports, Lebanon’s economy is performing worse than that of war-torn Yemen. Things have reached a stage where daily life is becoming impossible for ordinary people. Their savings in the local currency are worthless; they have no access to US dollars, and have resorted to bartering. Relying on the country’s politicians to fix the problem is like tying your hands behind your back and jumping into the sea. The situation in the country has become untenable. Lebanon is a ticking time bomb. [COMMENT BY: Omar Shariff, International Editor]
AP