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Tag Archives: Financial Crisis

IMF delegation meets with Mikati

A delegation from the International Monetary Fund arrived in Lebanon on Monday and will meet Prime Minister Najib Mikati on Tuesday, the prime minister’s office said on Twitter. The delegation, led by Ernesto Ramirez, will stay for few days during which they will meet with Lebanese officials and the ministerial …

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Riad Salameh hands over audit to PM Mikati

Central Bank Governor Riad Salameh on Friday met with Prime Minister Najib Miqati and said he handed him “a report prepared by the BDO, Semaan, Gholam & Co auditing company.” “The report was prepared at my request and it includes an auditing of my personal bank accounts and the accounts …

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Lebanese health sector investigated after hospital scandal

Lebanese health officials have launched an investigation after video images reportedly filmed by a doctor showed emaciated patients tied to filthy beds in a city healthcare center. The footage documented by the Wataawanou Association charity, sparked public outrage when broadcast on news channels on Friday. It highlighted poor conditions in …

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Lebanese abroad send aid to homeland

Lebanese expats in the wealthy UAE, many of them riven with guilt, are scrambling to ship essential goods and medicine to family and friends in their crisis-stricken home country. “How can I sit in the comfort of my home in air-conditioning and a full fridge knowing that my people, my …

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Macron to host new Lebanon conference in August

French President Emmanuel Macron will host a new international conference on Lebanon next month on the first anniversary of the Beirut port explosion, after premier-designate Saad Hariri gave up trying to form a government, the foreign ministry announced Friday. Macron will organize the conference on August 4 with the help …

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US disenchanted with Hariri situation

The United States said Thursday’s resignation of Saad Hariri as Lebanon’s prime minister-designate was disappointing.“It is critical that a government committed and able to implement priority reforms be formed now,” Secretary of State Antony Blinken said after Hariri abandoned his efforts to form a government nine months after accepting the …

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Qatar to help feed hungry Lebanese soldiers

Qatar will provide the Lebanese armed forces with 70 tonnes of food a month, the Qatari state news agency QNA reported, as Lebanon seeks assistance amid its worst economic and political crisis since a 1975-1990 civil war. Lebanon’s army chief Joseph Aoun had appealed to world powers at meeting in France last …

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Hezbollah says Lebanon ready for Iran fuel imports

Lebanon’s Hezbollah chief Sayyed Hassan Nasrallah on Friday repeated pledges to import Iranian fuel should shortages across the country persist, saying that all logistical steps for that possibility were complete. Nasrallah, who heads the Iranian-backed armed Lebanese group, said earlier in June Iran could supply fuel to Lebanon in local …

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EU war of words escalates with Lebanon

Josep Borrell, the high representative of the EU for foreign affairs and security policy, has criticized Lebanese officials and conveyed a “severe” message for “not forming the government after nine months of the resignation of Hassan Diab’s government and nomination of Saad Hariri as prime minister-designate.” Borrell, who is also …

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Lebanese crisis forces Pizza hut to shut down

Pizza Hut is closing in Lebanon as the fast food chain succumbs to the country’s deepening economic crisis. The family food favorite posted a notice on social media thanking its customers for their support and asking them to “hold on to these memories until we make new ones.” Rocketing inflation, …

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Free Patriotic Movement in Lebanon defends president Aoun

Michel Aoun

Lebanon’s largest Christian bloc, the Free Patriotic Movement (FPM), warned prime minister-designate Saad al-Hariri on Saturday against sidelining President Michel Aoun and other parliamentary interests in talks over forming a cabinet. Hariri and Aoun have been at loggerheads over the cabinet for months, dashing hopes of a reversal of Lebanon’s …

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Saad Al-Hariri says Lebanon on verge of collapse without his cabinet

Lebanon’s Prime Minister-designate Saad al-Hariri said on Thursday after a meeting with President Michel Aoun that forming a government that could re-engage with the IMF was the only way to halt the country’s financial collapse. The meeting took place after a heated exchange on Wednesday night between the two politicians, …

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France plans further measures against Lebanon, sources say

France and its international partners will seek to increase pressure on Lebanon’s politicians in the coming months, a French diplomat said on Wednesday, although he did not envisage sanctions against individuals in the immediate term. Paris has spearheaded international efforts to rescue the former French protectorate from its deepest crisis …

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Thousands occupy Beirut in latest protest

Thousands marched in central Beirut on Friday demanding a new independent government to lift Lebanon out of its deepening crisis as frustration over the country’s financial meltdown grew. Lebanon’s economic crisis is posing the biggest threat to its stability since the 1975-1990 civil war. Erupting in late 2019, it has …

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Army refuses to put down Lebanese protesters

Lebanon’s president told the army and security forces on Monday to clear roadblocks after a week of protests over a collapsing economy and paralysed government, but the army chief warned that troops should not get sucked into the political deadlock. President Michel Aoun issued the call to open up the …

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PM Diab condemns sudden eruption of violence in Tripoli

Lebanon’s caretaker prime minister on Friday condemned overnight violence in the city of Tripoli, where protesters angry over a strict lockdown clashed with security forces and set the municipality building on fire. Thursday was the fourth straight night of unrest in one of Lebanon’s poorest cities, after the government imposed …

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Oil-rich Iraq in dire need of IMF funds

Iraq has requested emergency assistance from the International Monetary Fund and talks are ongoing between the parties, the IMF said late on Sunday. Iraqi Finance Minister Ali Allawi told Bloomberg News earlier that Iraq was in talks with the IMF for a $6 billion loan package. “The Iraqi authorities have …

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Rafik Al-Hariri’s son lashes out at Hezbollah

Bahaa Hariri, the eldest son of slain Lebanese statesman Rafik Hariri, is calling for a broad alliance — a “supermajority” — to coalesce around a plan to agree on the way forward for Lebanon as it faces multiple crises. Such an alliance is needed to implement the unfinished business of …

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New dispute between Auon, Hariri threatens everything

The rift between President Michel Aoun and Prime Minister-designate Saad Hariri over the formation of Lebanon’s new government widened on Friday. Hariri was instructed to form a new government on Oct. 22, but no progress has yet been made, leaving the country in a political deadlock to add to its …

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Lebanese ignore Lebanon woes mobilise for Nagorno-Karabakh war

When Lebanon’s financial crisis pushed Vartkes to leave for Armenia this summer, he never imagined he would volunteer to fight in Nagorno-Karabakh. The young Lebanese-Armenian didn’t think twice, however, when the conflict between Azerbaijani and ethnic Armenian forces erupted soon after his move. “I wanted to go that night,” Vartkes, …

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Hariri back in the driver’s seat as PM

Lebanese veteran politician Saad al-Hariri was named prime minister for a fourth time on Thursday and pledged to form a new government that can tackle the country’s worst crisis since its 1975-1990 civil war. After his nomination, Hariri said he would quickly form a cabinet of specialists “with a mission …

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Michael Aoun promises he will pick Lebanese PM

Michel Aoun

Lebanon’s President Michel Aoun said on Wednesday he would fulfill his duty in designating a prime minister but put the onus on the new premier to launch moves to pull the country from financial crisis. Sunni leader Saad al-Hariri is poised to be named prime minister at formal consultations on …

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New government postponed in Lebanon again

Lebanon’s President Michel Aoun has postponed by a week consultations aimed at choosing a prime minister to form a new government to tackle the country’s worst economic crisis since its 1975-1990 civil war, the presidency said on Wednesday. Aoun had been due to hold the consultations on Thursday and was …

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Saad Al-Hariri reiterates call for French roadmap

Lebanon’s leading Sunni Muslim politician, former Prime Minister Saad al-Hariri, called for the restoration of a French plan to lift the nation out of its worst financial crisis since its 1975-1990 civil war. Former colonial power France, which has led foreign aid efforts, has tried to rally Lebanese leaders to …

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Ex-PM Hariri wants French intervention

Lebanon’s leading Sunni Muslim politician, former premier Saad al-Hariri, called for the restoration of a French plan to lift the nation out of its worst financial crisis since its 1975-1990 civil war. Former colonial power France, which has led foreign aid efforts, has tried to rally have Lebanese leaders to …

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