Lebanon will receive about $860 million worth of new International Monetary Fund reserves, but this will not fix the country's chronic problems without a government empowered to pursue economic reforms, IMF Managing Director Kristalina Georgieva said on Wednesday.
Families in Lebanon are now spending five times the minimum wage on food alone, a report found Wednesday, as inflation caused by the country's worst-ever economic crisis continues to soar. The Mediterranean country is battling what the World Bank has described as one of the planet's worst financial crises since the 1850s, which has left more than half the population living below the poverty line.
