Beirut Port Explosion is a Result and not a Cause
The explosion on the 4th of August was heard in Cyprus and felt in Jordan, where it registered an earthquake of 4.4 magnitude. It was considered the third strongest explosion after Hiroshima and Nagasaki. It was a result of several factors, which could be seen as a precursor and a cause. First was the stifling economic crisis that began in the summer of 2016, but worsened in the summer of 2019. Lebanon began to suffer from a deficit in the budget, the treasury, and the balance of payments. Speculations on currency prices returned for the first time since 1993. The situation required radical reforms to stop waste and adopt measures to control public spending and boost imports, in addition to obtaining financing from abroad in the form of investments, grants, loans, or foreign transfers. Two international conferences were devoted to donors in Paris. The first was held in March 2018, on the eve of the parliamentary elections, and the second in December 2019, when the IM...
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