I cannot even imagine the financial implications of the Lebanese economy. While I was visiting Lebanon in 2019, we had a family friend who drove us up through Tripoli, and he told us about his aging parent’s financial plans being ruined when the banks began failing in Lebanon. He told us that Lebanon did have a sort of system similar to Social Security in America, but as the economy began to fail, his parent’s life savings also suffered. Taking care of the elderly who can no longer work is such a hard challenge to resolve, especially on such a massive scale. I felt a lot of empathy for him and his family, especially when I am living in such an economically strong nation.
