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No Country for Poor Men: How Lebanon’s Debt Has Exacerbated Inequality
Recent estimates of wealth and income inequality in Lebanon have been on par with some of the world’s most unequal economies. After the country’s civil war ended in 1990, Lebanon embarked on a borrowing spree that rapidly expanded the public debt. This debt has exacerbated widening socioeconomic inequalities, creating a situation that now threatens the country’s stability. Until recently, a common misperception has been that Lebanon’s socioeconomic landscape is relatively equal. But data suggest otherwise. Based on income tax figures, the richest 1 percent of Lebanon’s population claimed 25 percent of the total national income between 2005 and 2014. Bank deposits reflected this unequal distribution. Data from 2017 showed that 20 percent of all deposits were concentrated in 1,600 accounts—only 0.1 percent of all deposit account