Lebanon: Between catastrophic statistics and incurable hope

Lebanon’s history has shown us that it’s a country that manages to bounce back from every disaster

Lebanon: Between catastrophic statistics and incurable hope

The job of an analyst is to make sense of facts by adding context and spotting trends. Here is one for you: the number of people killed in Lebanon by relentless Israeli air strikes last Monday was the highest daily death toll since the end of Lebanon’s civil war in 1990.

Here is another: Official figures at the time of writing put the number of internally displaced people at more than 90,000 and counting. That’s already 10% of the number of people who fled their homes in more than one month of fighting between Israel and Hezbollah in 2006.

Mind you, 18 years ago, the war involved an Israeli ground invasion of southern Lebanon. Judging by Israeli statements and Hezbollah’s response, that could still be coming this time around, too.

Modern-day Lebanon was born out of the agreements that followed the fall of the Ottoman Empire after World War I. It was, in the immortal words of historian David Fromkin, a “peace to end all peace.” We’ve become so used to conflict ever since that we like to boast about the ability to party at night after a day of bombardment.

But the cold facts numbers present today show that my homeland is on the brink of a disaster that makes you pity the living just as you mourn the dead.

Lebanon enters this conflict with Israel after enduring the worst economic depression in its history—one that saw the state default on billions of dollars of debt for the first time. Public services, already dismal by global standards, have collapsed. Banks have imposed informal capital controls.

We've become so used to conflict ever since that we like to boast about the ability to party at night after a day of bombardment.

Back to numbers and context. What happened to money? The local currency lost more than 90% of its value. You can't get your money out of the bank, so you helplessly watch its value dwindle day after day.

Gross domestic product shrank more than 20% in 2020 and 10% in 2021. For more context, the size of the Lebanese economy is now smaller than it was in 2006.

In 2006, Lebanon received crucial aid even as the war was raging on. Saudi Arabia deposited $1bn at the central bank to help protect the exchange rate, and international reconstruction money also poured in. The economy rebounded spectacularly, growing at an average rate of 9% between 2007 and 2010.

Does this mean the world isn't willing to help anymore? No! Donor nations and financial institutions, including the International Monetary Fund, have all offered assistance to help Lebanon overcome its economic crisis since 2020. But domestic divisions, illustrated by the failure to elect a president since 2022, as well as rampant corruption have stymied attempts to undertake economic measures to secure the much-needed aid.

This means that there is no clear roadmap to rebuild after the dust has settled and the dead are buried. The banking collapse also heightens the risk that displaced families may soon run out of money. Cue in social tensions between host communities and the displaced, something we didn't see in 2006.

That's one destructive vicious circle. Yet Lebanon's history has shown us that it's a country that manages to extract itself from and survive every disaster, if only until the next crisis hits.

Lebanese historian Fawwaz Traboulsi wrote a short book chronicling his diary during the 1982 Israeli siege and invasion of Beirut. He called it an Incurable Hope. It has gradually become my favourite way of explaining how we always somehow manage to bounce back.

It's something numbers can't explain.

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