August 13, 2020
Even before last week's explosion — which killed over 200 people, turned downtown Beirut into rubble, and forced the government to resign — Lebanon was already in economic dire straits. The value of the local currency has plunged following decades of corruption, mismanagement and political chaos, dragging about half of the population into poverty. Since the beginning of 2020, the depreciation of the Lebanese pound (on the black market, while the official rate remains somewhat pegged to the US dollar) and soaring inflation have increased the price of basic goods beyond what most citizens can afford, and wiped out pensions and salaries. If the situation does not improve soon, Lebanon could see unprecedented levels of hunger — and international assistance may not be enough to feed everyone. We compare how the Lebanese pound has traded with the US dollar amid rapidly rising inflation over the first half of the year.
From Your Site Articles
More For You
From shopping to services, consumer spending is showing strength across categories. Holiday shopping got an early start, and it’s not just higher earners filling their carts. Bank of America Institute sees continued spending growth recovery for lower- and middle-income households. See what’s driving the trends.
Most Popular
Members of the Green Bangla Garment Workers Federation hold a protest rally demanding the immediate reconstitution of the wage board for garment workers and the announcement of a minimum wage of Tk 30,000 in front of the National Press Club in Dhaka, Bangladesh, on October 9, 2026.
Mamunur Rashid/NurPhoto
Garment workers in Bangladesh have taken to the streets over the past week, demanding higher wages and forcing more than 600 factories to shut down nationwide.
As AI creates new opportunities, the people who understand a community best play an important role in determining how those opportunities take shape. Across the US, Microsoft is supporting AI literacy classes as part of a new program developed in collaboration with the Public Library Association, working through trusted local institutions to help people build practical AI skills. By pairing new technology with local knowledge, the initiative is helping communities explore how AI can support their needs and open new possibilities, while putting local leaders and organizations at the center of that work. Read the full story here.
People cast ballots inside the Cuyahoga County Board of Elections during early voting ahead of the midterm elections in Cleveland, Ohio, US, November 1, 2026.
REUTERS/Shannon Stapleton
We’re breaking down the three main issues that could help decide tomorrow’s elections: the cost of living, Israel, and AI.
© 2025 GZERO Media. All Rights Reserved | A Eurasia Group media company.