The decision follows the election of Lebanon’s new president Joseph Aoun last week, ending a prolonged 15-month leadership vacuum in the country
Lebanon government
Latest in Lebanon government
Lebanon
Lebanon elects army chief Joseph Aoun as new president
The presidency had remained vacant since Michel Aoun’s term ended in Oct. 2022
Central Bank of Lebanon
Lebanon’s former central bank chief charged with financial crimes
Riad Salameh was accused of embezzlement, theft of public funds, forgery, and illicit enrichment.
Central Bank of Lebanon
Inside Lebanon’s Ponzi scheme economy and the $100bn outflow crisis
A tangled web of financial misdeeds, shaky banks, and questionable central bank practices has plunged Lebanon’s economy into a crisis with no end in sight
Beirut Rafik Hariri International Airport
Lebanon cancels $122mn Beirut airport terminal over ‘corruption’ scandal
Lebanon had announced the construction of a new terminal at Beirut’s airport last Monday, which was set to welcome about 3.5 million passengers annually by 2027
Central Bank of Lebanon
Lebanon’s pound slumps to all time low of 100,000 to US dollar
Lebanese pound drops to a historic low as people in Lebanon suffer from economic crisis
currency crisis
Lebanese go hungry as poverty rises amid economic failure: Report
The majority of people in Lebanon are unable to secure their social and economic rights
financial crisis
Lebanese soldiers undergo bank heist training amid rise of theft
The Lebanese army have conducted heist training for bank robberies and hostage situations following a rise in recent incidents
financial crisis
Lebanese expats set to lose millions amid economic crisis
The country’s deputy prime minister said the government’s plan won’t cover all depositors
Lebanese politics
Lebanese PM calls for dialogue to strengthen Gulf relations
Najib Mikati said he had embarked on a series of contacts to tackle the government gridlock and resume the cabinet sessions
Beirut
Will $500m fund breathe new life into Lebanon’s private sector?
Lebanon Economic Empowerment Fund will provide debt capital exclusively to qualified privately-owned Lebanese businesses
International Monetary Fund
Lebanon’s private sector calls for ‘stability and normality’ amid ongoing crisis
In a country where the government’s approach to the private sector can be seen as apathetic as best and a hindrance at worst, Lebanon’s competitiveness rating is 88th out of 141 countries in 2019’s Global Competitiveness Index
Association of Banks in Lebanon
Banking sector is ‘only hope for Lebanon’, says head of bank association
In a country where depositors’ money is holed up via ad hoc capital controls imposed unilaterally by banks, Lebanese have lost faith in the country’s banking sector, once considered a pillar of stability
Central Bank of Lebanon
Lebanese brace for higher fuel prices as government cuts subsidy
Fuel crisis has exacerbated power blackouts and resulted in miles-long lines at gasoline stations during Lebanon’s worst financial meltdown in memory
beirut port explosion
Lebanon’s fate hangs in balance as Hariri decides future
He submitted a draft lineup of ministers the day before to President Michel Aoun, a Maronite Christian, in what seemed to be his last attempt to reach an agreement
Central Bank of Lebanon
Lebanon halts dollar withdrawals at more favourable rate
The bank said the decision implemented a request by the Shura Council, Lebanon’s top administrative court
