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Tag Archives: IMF loan

Progress with IMF talks, say Lebanese

Lebanon’s new government aims to make progress towards starting full negotiations for an IMF deal by the end of this year or early next, but is not expecting funds to be dispersed before elections in March, a minister said on Friday. In an interview with Reuters, economy minister Amin Salam …

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Macron wants Lebanon to stick to IMF requirements

French President Emmanuel Macron urged Beirut on Friday to implement urgent reform measures and push ahead with International Monetary Fund (IMF) talks, adding that France would continue to support Lebanon. Macron made his comments after meeting Lebanon’s Prime Minister Najib Mikati, who is on his first foreign trip after successfully …

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Lebanese cabinet succeeds in attaining confidence vote

Lebanon’s new government won a vote of confidence on Monday for a policy programme that aims to remedy a devastating economic crisis, despite the parliamentary session being delayed when the lights went off due to power shortages. The programme drawn up by Prime Minister Najib Mikati’s government promises to revive …

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More fuel prices hikes says new Lebanon government

Lebanon’s new government raised gasoline prices on Friday, cutting a subsidy that Prime Minister Najib Mikati has said is unaffordable as he advances plans to address a devastating financial crisis. The government also signed a new contract with restructuring consultancy Alvarez & Marsal (A&M) to carry out a forensic audit …

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Iranian fuel oil goes to Lebanon through ally Syria

The first Iranian fuel oil cargo secured through Lebanon’s armed group Hezbollah will be delivered via Syria by truck to avoid complications related to sanctions, two sources with knowledge of the mater said on Thursday. Hezbollah, a heavily armed group founded by Iran’s Revolutionary Guards in 1982, announced last month that a shipment of Iranian fuel oil was on its way …

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Hundreds of thousands of Lebanese trying to flee the country

Immigration from Lebanon is entering a state of “exodus” as the many crises hitting the small Mediterranean country remain unresolved, according to the Crisis Observatory, an interdisciplinary research program launched by the American University of Beirut. The continuing immigration of thousands of Lebanese is reaching a tipping point, the research …

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Lebanon still not out of the woods, politicians says

More than 12 months since Lebanon’s cabinet resigned and with the country teetering on the brink of collapse, politicians look unlikely to form a much-needed government any time soon, sources warn. Despite one of the world’s largest-ever non-nuclear explosions killing more than 200 people, soaring hyperinflation, food insecurity and crippling …

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No more fuel subsidies, says Lebanon central bank

Lebanon’s central bank said it would offer credit lines for fuel imports based on the market price for the Lebanese pound from Thursday, effectively ending a fuel subsidy that has drained its reserves since the country descended into financial crisis. The move, announced late on Wednesday, means fuel prices will …

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Maronite patriarch angry over Hezbollah rockets, defended by President

Michel Aoun

President Michel Aoun on Tuesday condemned criticism of Lebanon’s Christian Maronite patriarch after he expressed opposition to the Iran-backed Shi’ite group Hezbollah, warning that insults must be avoided to safeguard national unity. Following a cross-border salvo between Israel and Hezbollah, Patriarch Bechara Boutros Al-Rai was sharply critical of Hezbollah on …

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Lebanese killed in fuel fights

Three Lebanese men died in altercations on Monday related to scarce fuel supplies, an army statement and security source said, as the country reels from a long-running economic crisis. Lebanon’s currency has lost more than 90% of its value in less than two years, causing shortages of fuel, electricity and …

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Lebanon can no longer take care of its bears

Two endangered bears who were living in poor conditions in a Lebanon zoo have been flown to an animal sanctuary in the US after they started to lose weight and suffered from other health issues. Rights association Animals Lebanon said it managed to persuade their owner that “the bears deserved …

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Najib Mikati slotted to be new Lebanese PM

Lebanon’s wealthy businessman and former premier Najib Mikati is poised to be designated prime minister on Monday after winning the support of most major parties to form a new government facing a crippling financial crisis, political sources said. Earlier, a club of former Lebanese Sunni prime ministers said on Sunday …

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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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Hariri hands list proposed cabinet to Lebanese president

Lebanon’s prime minister-designate Saad Al-Hariri said on Wednesday he had presented a cabinet proposal to President Michel Aoun and is awaiting his response on Thursday, in a move that could end almost nine months of political deadlock amid an economic collapse. “Now is the moment of truth,” Hariri, who has …

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