“Lebanon is different from Washington and London. Lebanon's economic collapse: What happened? Lebanon hit by new protests as Covid-19 crushes economy already in collapse Some police reportedly told protesters 'Do you think we are happy? Lebanon’s escalating economic crisis and its collapsing currency are putting the price of many foodstuffs beyond the reach of the Lebanese. Over the years, Lebanon was also rocked by a wave of assassinations, the 2006 war with Israel and then a series of attacks after war broke out in Syria in 2011. Protest-hit Lebanon has approved an economic rescue plan and requested aid from the International Monetary Fund as it battles its worst financial crisis in decades. Lebanon is on the Brink of Economic Collapse While the COVID-19 lockdown is gradually easing, the loss of jobs and purchasing power triggered new protests that are turning violent and may prefigure the disintegration of state capacity and institutions. We should maybe teach them how to run a country without a budget.” With these words, Lebanese Foreign Minister Gebran Bassil dismissed claims that his country was on the verge of economic collapse. Published: May 04, 2020 18:30 AFP. Lebanon faces race against time to avoid financial collapse International financial institutions say that it is up to the country to restore trust and overcome the current liquidity crisis. Lebanon Image Credit: Reuters. Also in … How did Lebanon become one of the most indebted countries in the world?