The Dire Debt Numbers Facing Lebanon's New Government

With fixed exchange rates and some of the world’s worst debt and balance-of-payment ratios, Lebanon’s newly-formed government knows it needs to act fast to avoid sinking into a full-blown economic crisis, Reuters reported. Lebanon’s ability to dodge financial disaster has for years confounded critics, whose warnings of debt defaults, balance of payments crises and a collapse of the pound currency, have all failed to materialise. The hope is that it will stay that way, but as the charts below show the numbers are daunting. Lebanon’s 150 percent debt-to-GDP level and its near 25 percent current account gap - a figure that effectively shows how much a country borrows from the rest of the world - are its most worrying statistics. Read more