Lebanon has had a rough time this past year. The global pandemic is accelerating a dire financial situation that was created by 3 decades of corruption and petty sectarianism.<p>Lebanon has a long history (millennia) of rising from the ashes. So whatever happens will happen... Hopefully the lessons from this crisis are taken to heart on the next go around
I have absolutely no understanding of what this article talks about. I've read it twice, and it seems the banks will devalue the local currency, and sell off foreign assets as they start to become a higher percentage of their holdings because of the devaluation of the local assets.<p>but for what purpose?!