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".
Dubais Magellan Capital Launches Flagship $975m Hedge Fund
Dubai-based manager is opening its absolute return platform to third-party capital for the first time The post Dubai’... Read more
UAEs FAB Posts 22% Jump In Q4 Profit, Beats Estimates
UAE's biggest bank FAB reported a record 2025 profit after strong Q4 results, higher non-interest income and expanding ... Read more
Dubai Unveils $27.2bn DIFC Zabeel District In Landmark Financial Hub Expansion
Dubai unveils $27.2bn DIFC Zabeel District, a landmark expansion set to reshape the city’s financial hub amid global ... Read more
Digital Payments Dominate Saudi Arabia As Cash Use Continues To Decline, Visa Says
Visa research shows 80% of transactions in Saudi Arabia are now digital, highlighting accelerating consumer shift away ... Read more
Saudi Venture Capital Surges 145 Per Cent To $1.72bn In Record 2025
Saudi Arabia leads MENA venture capital for a third year, with 2025 investment reaching $1.72bn across a record 257 dea... Read more
GCC Debt Market Tops $1.1trn As Dollar Issuance Surges – Report
Fitch Ratings says GCC debt capital markets grew 14% in 2025, led by US dollar borrowing and record sukuk activity The ... Read more