Kataeb Political Bureau member and former economy minister Alain Hakim highlighted Lebanon’s dire financial and economic crisis following the latest report from credit rating agency Moody’s.

“Moody’s has maintained Lebanon’s credit rating at ‘C,’ underscoring the continuation of its financial and economic collapse,” Hakim wrote on his X account.

He pointed to several key challenges facing the country, including political paralysis, the ongoing currency devaluation, and the lack of imminent external support.

“Can we continue like this? The situation is catastrophic and requires immediate action and radical reforms,” he warned.

Moody’s assessment aligns with growing concerns among economists and political observers about Lebanon’s ability to address its compounding crises. The credit rating of ‘C’ reflects the lowest rung on Moody’s scale, signaling that the nation’s debt is effectively in default with little prospect of recovery.