Economy

A world apart, Lebanon and Sri Lanka share economic collapse

7 days ago   |   By Stl Today

A shared history of political turmoil and violence in two countries a world apart, Lebanon and Sri Lanka, led to the collapse of once-prosperous economies that have been bedeviled by corruption, patronage, nepotism and incompetence. The toxic combinations have led...
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A world apart, Lebanon and Sri Lanka share economic collapse

A world apart, Lebanon and Sri Lanka share economic collapse

7 days ago   |   By Chron

BEIRUT - Lebanon and Sri Lanka may be a world apart, but they share a history of political turmoil and violence that led to the collapse of once-prosperous economies bedeviled by corruption, patronage, nepotism and incompetence.
The toxic combinations led to disaster for both: Currency collapse, shortages, triple-digit inflation and growing hunger. Snaking queues for gas. A decimated middle class. An exodus of professionals who might have helped rebuild.
There usually isn't one moment that marks the catastrophic breaking point of an economic collapse, although telltale signs can be there...
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