1. Touching the Void: Economic Collapse and Popular Protest in the Levant
- Author:
- Peter Bartu
- Publication Date:
- 09-2020
- Content Type:
- Journal Article
- Journal:
- Brown Journal of World Affairs
- Institution:
- Brown Journal of World Affairs
- Abstract:
- At the end of 2019, quasi-revolutionary popular protests forced the resigna- tion of two prime ministers in Lebanon and Iraq. With these protests came the opportunity for political and economic reforms that were as wide-ranging as those called for during the 2011 Arab uprisings. The challenge was to steer the public energy of city squares into policies that would affect genuine institutional change and improve the economies of both states. More recently, the COVID-19 pandemic and the oil price crash have had calamitous consequences for Iraq and Lebanon’s rank and file. Lebanon faces hyperinflation, increasing food insecurity, and the collapse of its middle class. Meanwhile, Iraq’s government cannot meet its monthly payroll, has not fostered an active private sector, and has failed to create robust financial institutions—Iraq’s banking sector has been described as a “monetary dystopia.”1 Although economic prospects look bleak in the Levant, there is still a way out of this. It is time to bring in forensic auditors, apply cur- rency controls, and consider a regional approach to recovery. Those who benefit from the status quo will fiercely resist reform, but they can be circumvented by taking reform plans directly to the people by way of referendum. The future lies in going back to those marching in the squares.
- Topic:
- Economy, Protests, Inflation, COVID-19, and Economic Recovery
- Political Geography:
- Iraq, Middle East, and Lebanon