“The Washington Post”

“The Washington Post”
Lebanon went deeply into debt to finance reconstruction, and with a debt-to-GDP ratio of 149%, it is today the world’s third-most-indebted country. The interest payments total more than a third of the government’s annual spending. Yet because politicians and their families control one-third of all banking assets – and because lebanese banks own around 85% of the debts – these payments profit the very political leaders, sinking Lebanon deeper into debt…