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The lights are out in Lebanon

Sun Jul 19

An incoming flight to Beirut this month couldn’t land because the lights on the runway were out — which isn’t unusual these days as most of the country only has electricity for a few hours each day. 

Why? The country is running out of cash.

Lebanon is heading towards financial collapse; and while the coronavirus has impacted its economy, the cause of the impending collapse stems more from decades of mismanagement, corruption, and overspending. There have been anti-government protests over the last year, but it seems to be too late. 

There are also a few things compounding this current economic catastrophe. The country:

• Produces almost no exports
• Relies on remittances from those working abroad, which has slowed significantly during the pandemic
• Has restricted residents from accessing savings by limiting withdrawals of foreign currency
• Has nearly eliminated its middle class, with most now relying on some form of emergency aid
• Is struggling to secure basic goods, which is prompting fears of major food shortages
• Has the highest per capita refugee population (largely Palestinian and Syrian)

Is there anything Lebanon can do?

It’s not looking very promising. The government is seeking a $10 billion bailout, but talks have stalled with the International Monetary Fund, which is asking for reform in its corrupt public sector before it hands over the money. Other foreign donors who have helped in the past say they won’t help this time, as Hezzbolah, the Iran-backed militant group, remains a political force in Lebanon. 

SOURCES: Washington Post, GZERO, NBC News

The deadliest year for overdoses in the U.S.

Sun Jul 19

Around 71,000 Americans died from a drug overdose last year, and more than half were from synthetic opioids such as fentanyl, according to early estimates from the CDC. The total drug deaths is the highest on record, and up 5% from 2018, which actually saw a decrease in deaths for the first time in 25 years. 

What happened between 2018 and 2019?

• Carfentanil, a synthetic opioid stronger than fentanyl, disappeared from some U.S. markets in 2018 due to the risks, but then popped up again in 2019
• New non-fentanyl-based synthetic opioids hit the market, as fentanyl got a dangerous rep and government agencies cracked down on the deadly drug 
• Fentanyl started showing up on the West Coast; before, it was mostly in the East in areas such as Ohio and New Hampshire
• Meth is more potent, increasingly mixed with fentanyl, and moving East
• Some drug markets have flipped to fentanyl, and powder or clean heroin is no longer available

People are worried that this trend will continue into 2020, especially with the added stress of the coronavirus pandemic. According to the New York Times, drug deaths are already up 13% this year compared to last year. 

SOURCES: CDC, Vice, New York Times, CNN