Reading the economist, it's been obvious for several years that Lebanon's economy was going to collapse, despite coming out of the GFC well. Take this article from 2018. https://www.economist.com/middle-east-and-africa/2018/08/30/... Interest rates of 8-9% on US dollar denominated accounts. A 20%, of GDP, foreign account deficit. It was clear that they were paying out interest from deposits and it was unsustainable.