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What Lebanon needs to recover from the explosion

A man walks by a restaurant, heavily damaged by Tuesday’s explosion, on August 6, 2020, in Beirut, Lebanon. Marwan Tahtah/Getty Images
Photo Credit: Marwan Tahtah/Getty Images

As Lebanon recovers from a deadly explosion in its capital city, Beirut, much of the country has a serious request for the world: Please, whatever you do, don’t give aid money to our government.

The reason is few trust Lebanon’s leaders to use such funds wisely. They mismanaged the economy for decades with a Ponzi-like scheme that whisked away the hard-earned money of Lebanese people from banks to keep the government afloat and line the pockets of those in charge. The troubled policy screeched to a halt after the country’s banks simply ran out of cash last year, meaning Lebanese workers lost savings they’d stored in accounts and expected to be available when needed.

Read full article on Vox

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