January 22, 2020

A PEOPLE WHO THINK THEMSELVES A NATION ARE ONE:

Lebanon forms government with backing of Hezbollah and allies (Middle East Monitor, January 22, 2020)

The heavily indebted state has been without an effective government since Saad al-Hariri quit as premier in October, prompted by protests against politicians who have collectively led Lebanon into the worst crisis since the 1975-90 war.

New Finance Minister Ghazi Wazni said Lebanon needed foreign aid to save it from an unprecedented situation that had forced people to "beg for dollars" at the banks and fear for their deposits. He also described forthcoming foreign currency sovereign debt maturities as "a fireball".

The Iranian-backed Hezbollah and allies including President Michel Aoun nominated Diab as premier last month after efforts failed to strike a deal with Hariri, Lebanon's main Sunni leader and a traditional ally of the West and Gulf Arab states.

Weeks of wrangling over portfolios among Hezbollah's allies held up an agreement until Tuesday when the heavily armed group delivered an ultimatum to its allies to make a deal or suffer the consequences, sources familiar with the talks said.



Posted by at January 22, 2020 12:00 AM

  

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