A two-year-long financial meltdown has hit a crunch point this month as fuel shortages paralysed much of the country.

Secretary-General of the United Nations Antonio Guterres addresses the media as he arrives on the first day of the European Union summit at The European Council Building in Brussels, Belgium, June 24, 2021.
Secretary-General of the United Nations Antonio Guterres addresses the media as he arrives on the first day of the European Union summit at The European Council Building in Brussels, Belgium, June 24, 2021. (Reuters)

UN Secretary General Antonio Guterres has expressed deep concern about the deteriorating socio-economic situation in Lebanon and called on all "political leaders to urgently form an effective government of national unity," his spokesman said.

This is needed to "bring immediate relief, justice and accountability... and drive an ambitious and meaningful course for reform to restore access to basic services, restore stability, promote sustainable development and inspire hope for a better future," UN spokesman Stephane Dujarric said.

A two-year-long financial meltdown hit a crunch point in Lebanon this month as fuel shortages paralysed much of the country, sparking chaos and numerous security incidents.

The crisis has sunk the currency by more than 90 percent, forced more than half of Lebanese into poverty and frozen depositors out of their accounts. The World Bank has called it one of the sharpest depressions in modern times.

READ MORE: Lebanon's fuel crisis deepens as prices soar

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Source: Reuters