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New York

Tuesday 20th March 2018

Lebanon’s Aoun, Hariri Set on Solving Government Crisis


7Dnews London

Wed, 02 Jan 2019 19:48 GMT

Lebanon's President Michel Aoun and Prime Minister-designate Saad al-Hariri are “determined to form a government,” the Lebanese state news agency NNA quoted Hariri as saying after the two met on the evening of Tuesday January 1st.

As reported by Reuters, Hariri noted that only one difficulty remains in the process and that he was joining efforts with Aoun to solve it. A breakthrough to create a national unity government in line with Lebanon's sectarian power-sharing system looked close in December, but failed to find success.

Hariri has pledged to carry out economic reforms that could unlock billions of dollars of much needed international investment in Lebanese power, transport and data infrastructure, aimed at boosting the economy after years of weak growth.

Lebanon has the world's third-highest level of debt to GDP and Finance Minister Ali Hassan Khalil warned that an ongoing economic crisis could turn into a national financial catastrophe. The International Monetary Fund has stressed the importance of Lebanon putting its debt on a sustainable footing.

Middle East