Tag: Economic crisis

Categories Middle East

Level of foreign aid is mere ‘drop in the ocean’ as Afghanistan endures ‘terrifying’ and worsening hunger, UN official tells RT

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The promised international aid to Afghanistan is not nearly enough to deal with the growing hunger sparked by drought and economic collapse after the Taliban takeover, a UN food envoy has told RT. … Read More >Level of foreign aid is mere ‘drop in the ocean’ as Afghanistan endures ‘terrifying’ and worsening hunger, UN official tells RT

Categories Middle East

Lebanon to receive $1.1bn from IMF reserve to help its struggling economy after forming government following 13-month deadlock

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The Lebanese government has said it will receive $1.135 billion in International Monetary Fund (IMF) Special Drawing Rights as the newly formed government tries to tackle the worst economic collapse in decades. … Read More >Lebanon to receive $1.1bn from IMF reserve to help its struggling economy after forming government following 13-month deadlock

Categories Middle East

Crisis deepens in Lebanon as PM-designate steps down after failing to form a government for 8 months

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The Lebanese prime minister-designate has said he is stepping down from the post after failing for several months to put together a government from the country’s many opposing factions amid a worsening economic crisis. … Read More >Crisis deepens in Lebanon as PM-designate steps down after failing to form a government for 8 months

Categories Middle East

‘Social explosion’ imminent in Lebanon, as nation teeters on brink of economic collapse – caretaker PM

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Lebanon’s caretaker prime minister has warned diplomats that the country is days away from a “social explosion” and called for help from the international community, as the nation tries to avert catastrophe. … Read More >‘Social explosion’ imminent in Lebanon, as nation teeters on brink of economic collapse – caretaker PM

Categories Middle East

Lebanon in danger of sinking like Titanic, says parliament speaker, warns ‘everyone will drown’ unless govt is formed

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The speaker of the Lebanese parliament has warned that the country is in severe danger of going under unless a government is formed to address the nation’s problems, including a long-term solution to prevent electricity outages. … Read More >Lebanon in danger of sinking like Titanic, says parliament speaker, warns ‘everyone will drown’ unless govt is formed

Categories Business

‘Catastrophic consequences for people’s lives’: Debt crisis looming for developing world due to Covid response, UN chief warns

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The world faces severe problems of debt sustainability in the wake of the coronavirus crisis that have not been properly understood or addressed, United Nations (UN) Secretary-General Antonio Guterres told the Financial Times. … Read More >‘Catastrophic consequences for people’s lives’: Debt crisis looming for developing world due to Covid response, UN chief warns