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".

RECENT NEWS

First Abu Dhabi Bank Opens New London Branch, Marking 48 Years In The UK

FAB first entered London through its predecessor National Bank of Abu Dhabi, and the city now serves as a hub for priva... Read more

Estithmar Holding Net Profit Doubles To $128mn In H1 2025

Doha-based investment firm posts revenue of QAR 3.073 billion as international expansion drives growth Read more

UAE Central Bank Follows Fed Lead And Maintains Base Rate At 4.4%

Also decides to maintain the interest rate applicable to borrowing short-term liquidity at 50 basis points above the Ba... Read more

Joyalukkas Secures AED500m Capital Boost From Emirates NBD For Global Expansion

The deal is fully integrated with Emirates NBD’s advanced digital and trade platforms, offering Joyalukkas real-time ... Read more

UAE Central Bank Suspends Foreign Insurers Motor Business Over Solvency Issues

The CBUAE cited the entity's non-compliance with solvency and guarantee requirements specified in the Law and prevailin... Read more

Standard Chartered Launches UAEs First Sustainable Escrow And Account Bank Solution

New solution enables clients to align cash deposits with sustainability goals through a market-first offering available... Read more