BEIRUT, A senior UN official, yesterday warned that, Lebanon may be turned into a “failing state” if the government does not succeed in implementing quick and serious reform measures, amid the current unprecedented financial crisis.

“The prime minister should exercise his authority and move the country forward. There is no time to waste,” said Olivier De Schutter, UN Special Rapporteur on extreme poverty and human rights, during a press conference held at the end of his mission in the capital, Beirut.

He noted, with a highly regressive tax system, Lebanon is “among the most unequal countries on the planet where 10 percent of the wealthiest people earn 70 percent of the total wealth.”

De Schutter pointed out that Lebanon is facing four main crises, including the presence of a big number of Syrian refugees, the devaluation of the Lebanese pound, amid the rising inflation, the COVID-19 outbreak, which increased school drop-out among Lebanese students, and the impact of the Beirut port blasts, which left thousands of people homeless and hundreds of thousands others jobless.

“Behind all of these crises, there is a crisis of trust,” De Schutter added.

De Schutter emphasised the need for the political system to recover its integrity, especially when it comes to the banking sector responsible for the downfall of the Lebanese pound and the impoverishment of the people.

He noted that, one of the inconveniences facing the banking sector is the fact that, 18 out of 20 banks have major shareholders linked to the political elites.

“We need to prevent the conflict of interests between the business sector and politicians, otherwise Lebanon will become a state that is captured by economic interests,” he said.

Source: Nam News Network