Beirut explosion a huge financial blow for a nation in economic crisis | Sky News Australia

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The Beirut explosion “could hardly have come at a worse time for Lebanon” which is facing the worst financial crisis in its history according to Sky News host Brent O’Halloran.

Nearly 3,000 tonnes of ammonium nitrate stored at the port for six years are believed to have caused the explosion which created a shockwave felt throughout the city. The incident destroyed dozens of buildings, killed more than 140 people, injured around 5,000 people and left at least 300,000 homeless.

The Middle Eastern nation has faced decades of conflict and in the aftermath of the explosion must now confront a disaster amounting to an estimated $15 billion in damages. With the Lebanese currency in free fall and unemployment above 30 per cent, it is predicted more than half the population will be living in poverty by the end of the year, Mr O'Halloran said.

 

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