In a periodic report issued annually, the World Bank (WB) has revealed that the economic crisis in Lebanon is one of the worst problems in the world since mid of the 19th century.
The WB mentioned over its report that there is no light at the end of the tunnel as politicians do not exert serious efforts to lead the country out of the social and economic dilemma.
The world financial institution warns that Lebanon drowns into one of the three crises in the world.
It forecasts that the social effect of the financial crisis will become a tragedy at a haste pace because the monetary and fiscal disorders push the catastrophe to further aspects.
Inflation in Lebanon and the collapsing rate of exchange between the US dollar and the Lebanese pound reflect the morbid situation in the country.
It is worth noting that the Lebanese banks froze deposits of clients and prevented them from transferring abroad after a financial crisis that broke out lately in 2019.
The Lebanese banks went through dire conditions although they were ranked years ago among the most profitable institutions in the world`
On the other hand, Fouad Siniora, former Prime Minister of Lebanon urged yesterday, Monday, all partisan and sectarian leaders in the country to respect the constitution.
He interviewed the Al-Gadid, a space channel, and told reporters that the President of the Republic hinders forming of the new government.
Recently, the president and the designated Prime Minister Saad Hariri swapped spars on thwarting forming of the new government.
He that he and other former prime ministers adhere to the constitution.
He stressed that he also supports Nabih Berri, Speaker of the Lebanese parliament, as they did not clash over the thorny files.
Both Hariri and Lebanon's President Michel Aoun are locked horns, so government formation was put off for more than six months and a half.
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