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Mon, 20 Jan 2020 20:27 GMT

Lebanon Makes Global Appeals for Hard Currency

Business

7Dnews London

Sat, 07 Dec 2019 19:23 GMT

Lebanon appealed on Saturday December 7th, to more countries to help amid deteriorated economic conditions that have caused a shortage in hard currency and prevented the importing of essential goods, reported Reuters.

The office of caretaker president Saad al-Hariri asked the governments of Germany, Britain, and Spain to help his country to secure hard currency for imports, after making the same request on Friday to Saudi Arabia, Egypt, France, Russia, Turkey, China, and the United States.

The office of Hariri said that the requests are part of efforts to secure food security and the production of raw materials, caused by the worst economic crisis in Lebanon since the civil war that lasted from 1975 to 1990.

The Lebanese people took to the streets in early October to protest against Lebanon’s political ruling-class, accusing its members of corruption and sectarianism.

The nationwide protests were ignited by tax increases and prompted the resignation of then prime minister Saad al Hariri on October 29th.

The Lebanese government has been locked in intensive consultations to name a new prime minister. The front runner to form the upcoming cabinet was the Sunni businessman Samir Khatib who is considered to be a consensual figure since he is supported by Sunni and Shi’ite groups.

Parliamentary Speaker and leading Shi’ite politician, Nabi Berri, has said that he would support Khatib to head the new government.

France decided after being approached by Hariri’s office to organise a meeting on December 11th in Paris and invite representatives of countries able to provide financial assistance to Lebanon, according to The961 news website.


Middle East