Half Of Lebanese Could Face Food Shortages: UN

More than half of Lebanon's population risk facing a food crisis in the aftermath of a Beirut port blast that compounded the country's many woes, a UN agency said Sunday.
"More than half of the country's population is at risk of failing to access their basic food needs by the year's end," the UN Economic and Social Commission for Western Asia (ESCWA) said.
"Immediate measures should be taken to prevent a food crisis," ESCWA executive secretary Rola Dashti said.
Lebanon's government, she said, must prioritise the rebuilding of silos at the Beirut port, the country's largest grain storage.
Lebanon was mired in an economic collapse even before the cataclysmic August 4 blast at Beirut's port, which killed 188 people, wounded thousands and destroyed swathes of the capital.
Lebanon defaulted on its debt, while the local currency has plummeted in value on the black market and poverty rates have soared, on top of a spike in the number of coronavirus cases.
"The yearly average inflation rate is expected to be more than 50 percent in 2020, compared with 2.9 percent in 2019," ESCWA said in a statement.
Lebanon relies on imports for 85 percent of its food needs and the annihilation of the silos at the Beirut port could worsen an already alarming situation, aid agencies and experts have said.
ESCWA said increased transaction costs of food imports could lead to a further rise in prices.
To prevent a crisis, authorities must set a ceiling for food prices and encourage direct sales from local producers to consumers, Dashti added
She also urged the international community to "expand food security programmes targeting refugees and host communities" to help defuse "potential social tensions".
Earlier this month, ESCWA said more than 55 percent of the Lebanese are "trapped in poverty and struggling for bare necessities".
UAE Announces Major New Tax Rules
UAE introduces Cabinet Decision to amend tax rules and attract investment Read more
UAEs Maseera Acquires Egyptian Fintech ADVA
The move marks a critical milestone in Maseera’s regional expansion strategy Read more
Oman Mandates IBAN For Domestic Transfers From July 2025
The move follows the Oman Central Bank's implementation of the IBAN system for international transfers from March 31, 2... Read more
Egypt And Jordan Thank The European Parliament For New Financial Aid
The European Union members recently approved loans worth $4.4 billion in three instalments to Egypt and $555 million to... Read more
Standard Chartereds SC Ventures To Replicate Asia, Africa SME Model In GCC
SC Ventures to bring its successful SME building strategy in India, South East Asia and Africa to GCC, and plans to rol... Read more
UAE Central Bank Revokes Licence Of Dynamics Insurance Brokers For Regulatory Breaches
Dynamics Insurance Brokers "failed to comply with the licensing terms and requirements issued by the Central Bank and w... Read more