SAWT BEIRUT INTERNATIONAL

| 24 June 2021, Thursday |

Bahaa Hariri comments on World Bank report about Lebanon

Lebanese businessman Sheikh Bahaa Hariri commented Thursday on the recent World Bank report which indicated that Lebanon is sinking into one of most severe global crises episodes amidst deliberate inaction and that the country’s crisis is among the worst worldwide in 150 years.

“All those who participated, supported and remained silent about defaults, failures and transactions made by the ruling authority shall be held liable for the financial and economic collapse Lebanon has reached today,” Sheikh Bahaa said.

“May God inflict a great misfortune upon a corrupt regime,” he said, adding “history will not have mercy on it.”

Bahaa Hariri is the eldest son of slain Lebanese Prime Minister Rafik Hariri who was killed along with 21 others in an explosion in Beirut, Lebanon, on February 14, 2005.

“Lebanon is enduring a severe and prolonged economic depression,” according to the World Bank report which was published on June 1. “The economic and financial crisis is likely to rank in the top 10, possibly top 3, most severe crises episodes globally since the mid-nineteenth century.”

“In the face of colossal challenges, continuous policy inaction and the absence of a fully functioning executive authority threaten already dire socio-economic conditions and a fragile social peace with no clear turning point in the horizon,” the report said.

“More than half the population is likely below the national poverty line, with the bulk of the labor force -paid in Lira- suffering from plummeting purchasing power.”