The schram, academy

FMM project
Lebanon
BY: - Varshini Kumar
11-C
Index:-
 About Lebanon
 The explosion:-
 Economic crisis
 Stock market and stock exchange
 Conclusion
 Bibliography
About Lebanon:-
 Lebanon, officially known as the Lebanese
Republic is a country in Western Asia.
  It is bordered by Syria to the north and
east and Israel to the south, while Cyprus lies
west across the Mediterranean Sea.
 Lebanon's location at the crossroads of
the Mediterranean Basin and the Arabian
hinterland has contributed to its rich
history and shaped a cultural
identity of religious and ethnic diversity. 
 At just 10,452 km2 (4,036 mi2), it is
the smallest recognized sovereign state on the
mainland Asian continent
The explosion:-
 On 4 August 2020, a large amount of ammonium
nitrate stored at the port of the city of Beirut, the
capital of Lebanon, exploded, causing at least
181 deaths, 6,000 injuries, US$10–15 billion in
property damage, and leaving an estimated
300,000 people homeless.
 Around 2,750 tonnes of the substance had been
stored in a warehouse without proper safety
measures for the previous six years.
 Due to the poor maintains something caused
some reaction with the substance which led to
the blast.
Economic crisis:-
 The USD parallel exchange rate started changing
from the official exchange rate; the official
exchange rate for the USD had been 1507.5
Lebanese pounds since 1997, while the parallel
exchange rate was 1600 Lebanese pounds in the
fall of 2019 and would increase around 4200
Lebanese pounds in May 2020.
  The USD parallel exchange rate is increasing
because of the dollar shortage In Lebanon.
 This economic crisis made Lebanon's gross
domestic product fall to about $44 billion, which
was about $55 billion the year
Stock market and stock
exchange:-
 Lebanon’s stock market is due to open Monday
for the first time since the Beirut port explosion
on Aug. 4 as anti-government protests gather
strength.
 The stock market has been closed since the
blast that killed more than 150 people and
injured over 6,000. Adding to uncertainty is
political turmoil with demonstrators managing
to gain entry to several ministries as well as the
Association of Banks in Beirut on Saturday.
 Leaders of more than two dozen countries on
Sunday pledged almost $300 million
in emergency relief to Lebanon with more aid
dependent on political reform.
Conclusion:-
Lebanon was already suffering from a great
economic crisis. The blast made it worst for
the nation and its people. Currently Lebanon
government is trying their best cope up with
the loss and damage cause by the blast. It will
take quite a long time from them to come
back to a normal developing economy. Other
counties are also helping them by
contributing through funds.
Bibliography:-
https://www.bloomberg.com/news/articles/2020-08-
09/beirut-s-bourse-to-resume-trade-with-real-estate-
stock-in-focus
https://www.voanews.com/middle-east/lebanon-still-
facing-financial-crisis-one-month-after-massive-
explosion
https://en.wikipedia.org/wiki/Lebanon