There are a number of countries that are struggling with severe inflation these days and Lebanon is one of those areas. This year they have seen the inflation increase more than 211% as people scramble to continue to survive and debate over what solutions might be put into place to stop this.

Facing An Economic Crisis in Lebanon

Millions of people are going to struggle with this inflationary environment as we are already seeing in the US and elsewhere, where the inflation is much less than what they are dealing with in Turkey, Lebanon, Venezuela, Nigeria, and other regions.

This has been ongoing for years and it has already caused a great deal of pain for many in the country.

This has wiped out many people's savings and is pushing families and individuals to look elsewhere, those who are privileged with options, for something that has a more optimistic future and outlook than what they've seen continue to go downhill.

In 2021 the inflation rate in Lebanon almost doubled and now has surpassed 200%.

We see that billions of people around the world are having to pay for the arguable corruption that has created these circumstances of monetary devaluation. Some might continue to blame Russia, others point the finger at the pandemic, and few it seems are turning to question those who are tied to the task of controlling the markets & the money etc... Are they truly innocent in the decline? Have their market manipulation tactics had no undesired impact? Around the world now we see the reversal of interest rates going up to combat the issue, but is this going to be enough to get inflation under control?

Pics:
pixabay
sources:
https://www.dailymail.co.uk/news/article-11010535/United-States-sees-one-HIGHEST-inflation-rates-developed-countries.html
https://www.nytimes.com/interactive/2022/06/16/business/economy/global-interest-rate-increases.html
https://www.nytimes.com/2022/07/17/business/economy/global-central-banks-inflation.html