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Civil War in Lebanon The civil war in Lebanon has had far

The civil war in Lebanon has had far-reaching effects not only with regard to the political situation within the nation, but serious damage has also been done to the economic infrastructure. The civil war has brought down the authority of the state, paralyzed the legislature and weakened the executive branch to the point of its being rendered ineffectual. On the economic side, real damage has been inflicted on the civil engineering projects that are critical to any nation's successful build-up of trade, and the level of confidence in the nation's economy is at a low level.

The civil war has continued for more than 16 years, and much devastation has exacted a heavy price from the Lebanese economy during that time. Estimated damage over the period exceeds $30 billion, a sum that would be difficult for healthy economies to inject to their systems, let alone an economy which has been crippled by war. In addition to the actual destruction brought about by political and military conflicts, the civil war has also resulted in a destruction of confidence in the nation and its economy, leading to additional deterioration in the economic sector.

The gross national product (GNP) has fallen, hyperinflation (100 percent in 1990) has been established, the national deficit has increased and the currency has been significantly depreciated. As a result, the buying power of the nation's citizens has been steadily eroded, those individuals who had the means to have fled the nation, and aid to the nation from the international arena has been halted. One of the problems with the flight of Lebanese citizens is that it is those who have the ability to flee who do so. In this way, the nation loses its "best and brightest" to other economies and is left with unskilled workers or service employees to rebuild the economy, further hampering future growth prospects.

The Lebanese Central Bank has tried to shore up the crippled economy as best it can ...

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Civil War in Lebanon The civil war in Lebanon has had far. (1969, December 31). In LotsofEssays.com. Retrieved 08:46, March 29, 2024, from https://www.lotsofessays.com/viewpaper/1708877.html