His caretaker Prime Minister Lebanon Hassan Diab made an anxious appeal to the international community “to save Lebanon” and not to link the disbursement of financial aid to the bankrupt country with the formation of a new government, according to APE. “Linking aid to Lebanon with the formation of a new government is now a threat to the lives of Lebanese and to Lebanon,” said Hassan Diab, as his country faces the worst socio-economic crisis in its history.
“The pressure exerted… does not affect the corrupt, but the one who pays the outrageous price,” he added, addressing a meeting with ambassadors and representatives of foreign missions in Beirut. The caretaker Prime Minister also said that his government could not resume talks with the International Monetary Fund and that only a new government would be able to do so.
“This government does not have the right to resume negotiations with the IMF on the implementation of the recovery plan, because that includes obligations that the new government may not approve,” he said. Unprecedented devaluation of the hryvnia, an explosion of inflation, mass layoffs, rising poverty: Lebanon is going through, according to the World Bank, one of the worst economic crises in the world since 1850.
This crisis is largely attributed to the endemic corruption and incompetence of the political elite, dominated for decades by the same families and the same personalities. Members of the Lebanese leadership are accused by a large part of the population of being indifferent to the needs and priorities of the country. The deadly and catastrophic explosion of August 4, 2020 in the port of Beirut was the gratuitous shot for Lebanon: more than 200 dead, thousands injured, hundreds of thousands homeless and mass destruction.
Hassan Diab’s government resigned a few days after the tragedy. But since then, for 11 months, endless negotiations between the major parties have prevented the formation of a new government. The country experienced at the end of 2019 an unprecedented popular uprising against power and corruption, to no avail. The international community, led by Paris, has made it a condition of providing financial assistance to form a government capable of in-depth reforms to pull the country out of the crisis. “Lebanon is in a very dark tunnel, the difficulties have reached tragic levels,” the caretaker prime minister warned, explaining that the country was “a few days away from a social explosion.” “Save Lebanon before it’s too late!”
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
