Lebanon heads for famine as pandemic accelerates hungerJuly 1, 2020 - 14:17 AMT PanARMENIAN.Net - Lebanon is battling its worst economic crisis in modern history, and now there are fears the country is about to repeat the 1915-18 famine, The Telegraph reports. In the past week alone, the Lebanese pound has lost over 40% of its value. Millions of people are watching their savings and salaries disappear as food inflation hits nearly 200 per cent. Hit by its worst economic crisis in modern history, the Lebanese pound has lost over 80% of its value since October, when nationwide anti-corruption protests began to rock the country. Despite a decades-long peg of 1,500 to the dollar, people now widely use the black market value of the pound as a reference of the currency’s real worth. According to a recent UN report, by the end of April over half of the country was struggling to put the most basic produce on the table as food prices had risen by 56 per cent since October. Preliminary results show that between mid-March and May, they rose by 50 per cent. Accelerated by the pandemic, unemployment is soaring, the value of wages are plummeting and prices continue to skyrocket. Lebanon is also host to around 1.5m refugees – the most per capita in the world. And it is no longer refugees and other vulnerable people who are concerned about being able to feed their families as Lebanon’s economic turmoil continues to spiral out of control. Photo: Abbie Cheeseman Top stories Authorities said a total of 192 Azerbaijani troops were killed and 511 were wounded during Azerbaijan’s offensive. In 2023, the Azerbaijani government will increase the country’s defense budget by more than 1.1 billion manats ($650 million). The bill, published on Monday, is designed to "eliminate the shortcomings of an unreasonably broad interpretation of the key concept of "compatriot". The earthquake caused a temporary blackout, damaged many buildings and closed a number of rural roads. Partner news | Czech-Armenian military cooperation discussed in Yerevan A delegation led by the Director General for the Industrial Cooperation Division of the Ministry of Defence of the Czech Republic visited Armenia. U.S. welcomes efforts to define Armenia-Azerbaijan border The United States welcomes efforts to define the border between Armenia and Azerbaijan, says Vedant Patel. Biden honors resilience of Armenian people on April 24 U.S. President Joe Biden has issued a statement on the 109th anniversary of the Armenian Genocide. Ex-Karabakh leader moved to solitary confinement cell in Baku, his son says David Vardanyan is the son of former Karabakh leader Ruben Vardanyan who who is currently imprisoned in Azerbaijan. |