by reuters.com — Issam Abdallah, Alaa Kanaan – Sick of Lebanon’s political instability, Habib Rahhal had been mulling leaving since 2018 to seek a better future. But the final straw came in November when he was unable to get money out of the bank because of a national financial crisis. He stepped up his job search abroad and found one in Germany. The digital product designer left Beirut for Berlin this month, intending to build a new life and joining a growing wave of Lebanese driven abroad by the crisis. “Typically, if someone is leaving, you would be upset and try to persuade them not to. In Lebanon, it is the opposite… The first thing they say is ‘Congratulations!’,” Rahhal, 27, said as he packed his bag. “This is what makes Lebanese happy these days – leaving the country.”
Lebanon’s economic crisis is widely seen as the most acute since independence from France and worse than any it endured during the 1975-90 civil war. Long in the making, the crisis came to a head last year as flows of capital into the country slowed down and protests erupted against a ruling elite that has overseen decades of state corruption and bad governance. Banks have imposed tight limits on access to cash and transfers abroad, the Lebanese pound has slumped and firms have shed jobs and slashed wages. The economy shrank by 7% last year, according an estimate by the former economy minister. With no end in sight to the crisis, many people are considering where they might be able to go. Many Lebanese, including some of the most highly skilled, already have second passports, making it easier for them to leave.