Anti-government demonstrators flagged on March 16, 2021 in front of the central bank of Lebanon in the capital Beirut, burning a dump and blocking the street, while protesting the deteriorating economic situation. Shake.
JOSEPH EID | AFP | Getty Images
Lebanon’s current mismanagement has put it on “coming to the last station” and “train to hell,” Henri Chawl, a former adviser to the State Treasury, told CNBC.
Chawl, who advised the government in a meeting with the International Monetary Fund, resigned last June because Lebanon did not make the necessary reforms to qualify for IMF support.
“This is not a good government for the future of Lebanon,” Chawl said.
“It’s clear that the old business model, Lebanon’s old governance model, has completely failed at many levels,” Chaoul added. “We need to be able to rebuild.”
And Beirut is a city that is anxious to rebuild, More than 200 people were killed and more than 6,000 were injured in the harbor explosion last August and are still upset... The blast investigation is still inconclusive after nine months.
Lebanon faces the worst crisis since the bloody civil war of 1975-1990. The currency has lost 90% of its value in the informal market in the last 18 months and food inflation has reached 400%.
The country has also suffered more than 533,000 cases and more than 7,500 deaths and has been hit hard by the coronavirus pandemic.only 7Percentage of the population has been vaccinated so far.
Subsidies for essentials such as medicines, food and fuel are beginning to be withdrawn to restore declining foreign exchange reserves.
Lebanon’s caretaker government, Hassan Diab, wants to implement a cash card program to help citizens achieve their goals.
“The prime minister’s position is that it is imperative to start a card program before the subsidies are removed,” a source close to the cabinet told CNBC on Tuesday.
“The mechanism for initiating a card program is complex to design and implement, and the card program must be funded from Banque DuLiban,” a source added.
Without the right government in place, Lebanon will not be able to move forward and make the necessary reforms to unleash the aid it desperately needs.
A small Mediterranean country of nearly 7 million people has been appointed as the third prime minister in a year after Diab resigned as a result of the Beirut explosion. His successor, Mustafa Adib, resigned a month later. Diab’s caretaker government is likely to survive until three-time Prime Minister Saad Hariri forms a new legislature, and discussions on its composition are still stalled. Hariri declined to comment on this article when contacted by CNBC.
For many people across the country, there is no hope of change.
“In order for Lebanese youth to stay in Lebanon and decide to build their future, we need to see the silvery backing of this crisis and build a new social contract,” Chawl told CNBC. .. “There is no hope in Lebanon today.”
France’s Foreign Minister Jean-Yves Le Drian threatened to sanction the politicians who caused the deadlock during his visit to Beirut last week and warned against “collective suicide” if the country did not continue to form a government. ..
Paris has taken steps to restrict Lebanese officials from entering France, which impedes the country’s political progress.
Riad Salame, Governor of the State’s Central Bank, Also facing corruption Allegation In France, Swiss prosecutors are investigating suspicious things about foreign investment embezzlement And money laundering related to Banque du Liban.
Salame claimed to have earned wealth before taking office as central bank governor in 1993, and his lawyer, Pierre Oliviersour, told CNBC that his client had been made a scapegoat.
Lebanon is on a “train to hell”: former government adviser
Source link Lebanon is on a “train to hell”: former government adviser