Imagine 125 million refugees flooding into the United States (population: 328 million). That is what Lebanon has experienced on a per capita basis. Since 2011, this nation of 4 million people has seen an influx of some 1.5 million refugees fleeing the Syrian civil war next door. “I find it a miracle this country hasn’t exploded,” a Western diplomat told me last week. “Most countries would never have allowed this to happen.”
Lebanon faces several economic and governance challenges leading it towards a destabilising currency crisis. Its leaders seem to be in no position to avert a crisis.