A year after
Lebanon’s first sovereign default, the situation in the country has deteriorated sharply. Political paralysis, a dramatic decrease in standards of living and the fallout from the coronavirus pandemic have pushed protestors to the streets once again.
Prime Minister-designate Saad Hariri has been unable to form a new government, seven months after the previous cabinet resigned following the Beirut port explosion last August.
Without a new government, Lebanon cannot secure an IMF program or international donor support, and it cannot restructure its $90 billion sovereign debt pile.
Recent calls by Maronite Patriarch Bechara Boutros al-Rai for a new administration that is neutral in regional conflicts were met with support on the streets, but whether these calls will yield anything is unclear.
Lebanon s Debt-Resolution Challenges Continue, One Year On From Default
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Lebanese army starts clearing roadblocks after week of protests – Ya Libnan
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