Tumbling oil prices add to Lebanon's woes

Lebanon's economic model had for long hinged on its banking sector, which attracted deposits from ex-pats residing in the Gulf and Africa before crumbling as cracks began to show late last year.
by Georgi Azar

21 March 2020 | 13:04

Source: by Annahar

  • by Georgi Azar
  • Source: Annahar
  • Last update: 21 March 2020 | 13:04

A biker passes in front of a concrete wall set up by authorities in downtown Beirut guarding the Parliament (AP)

BEIRUT: Oil prices plunged yet again this week, shedding as much as 26 percent and falling to an 18-year low. This downward spiral will prove to be a double-edged sword for Lebanon, whose economy had...
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