September 2021 - Page 2 of 3

Lebanon Daily News Brief 9/21/2021

Posted on September 21, 2021 by admin2

DAILY NEWS

Miqati’s Government Wins Vote of Confidence
After Lebanese lawmakers gathered at UNESCO Palace today to review Prime Minister Najib Miqait’s policy statement, Miqati’s government won a vote of confidence from parliament. The policy statement vows to quickly resume IMF talks and to begin reforms. About 85 MPs gave their vote of confidence and 15 voted against it. The session lasted over eight hours, including a temporary delay from a power outage. [Al Jazeera]

Lebanon’s Creditors Urge IMF Talks
A group of Lebanon’s bondholders, including Amundi, Ashmore, BlackRock, BlueBay, Fidelity and T-Rowe Price, said in a statement that it urges the Lebanese government to engage in IMF talks as soon as possible. The group said they hope for a rapid debt restructuring process. [Reuters]

100 Million Liters of Fuel Offloaded by Tomorrow
A representative of the Syndicate of Gas Station Owners in Lebanon said that the gas crisis in Lebanon will be delayed for at least the next two weeks as 100 million liters of fuel are offloaded into gas stations by tomorrow. He further urged officials to announce the mechanisms that will be adopted to completely remove fuel subsidies. [The 961]

OPINION & ANALYSIS

Politico
How Biden Can Help Lebanon Break Its Vicious Political Cycle
Hanin Ghaddar

Ghaddar writes, “Lebanese politics sadly haven’t changed much over the last decade or two — and neither has the U.S. playbook for addressing the country’s intermittent crises. Now, however, the Biden administration has an opportunity to take advantage of Hezbollah’s weakness and bolster the viable political alternative to the group’s rule that Washington has long hoped for. By jettisoning its traditional focus on Lebanon’s failed institutions and instead investing in the business leaders, activists and youth who are increasingly frustrated with Hezbollah, the U.S. can empower a new generation of Lebanese Shias who actually do want change — and may finally have the power to make it.”

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Middle East Institute
The Consequences of Lebanon’s Constitutional Crisis
Antoine Z. Sfeir

Sfeir writes, “While Lebanon’s unending tensions are mostly political and socio-economic in nature, substantially more attention must be devoted to the Constitution. In fact, at the heart of every imaginable misfortune, the country’s 1926 Constitution, amended in 1989 with the Ta’if Agreement, is in need of “technical” review and updates. This is, of course, easier said than done, but more attention must be paid to the texts that “govern” the land and its socio-political constructs. To that end, adjustments to the current and somewhat inconvenient procedures and conditions are inevitable.”

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Disclaimer: The views and opinions expressed in these articles are those of the author and do not necessarily reflect the position of the American Task Force on Lebanon, a non-profit, nonpartisan leadership organization of Lebanese-Americans.

Lebanon Daily News Brief 9/20/2021

Posted on September 20, 2021 by admin2

DAILY NEWS

Parliament Session Delayed After Power Cut
Lebanese lawmakers gathered at UNESCO Palace today to review Prime Minister Miqait’s policy statement before a vote of confidence is held this evening. A power outage delayed the meeting, and it took about 40 minutes for the electricity to come back on. [AP] The new government’s draft program intends to renew and further develop a previous financial recovery plan. [Reuters]

WHO Director-General Warns Lebanon’s Health Sector is Crumbling
Yesterday World Health Organization Director-General Dr. Tedros Adhanom said that nearly 40 percent of Lebanon’s skilled medical doctors and 30 percent of registered nurses have left the country either permanently or temporarily. Dr. Adhanom’s statement comes at the conclusion of a two-day visit to Beirut. He emphasized the deterioration of Lebanon’s health sector made worse by fuel shortages. [The 961]

Prime Minister Miqati’s Interview with CNN
On Friday, Prime Minister Najib Miqati participated in an interview with CNN in which he urged the Lebanese people to trust the new government as it seeks to quickly address the country’s economic crises. He added, “I’m going to do the quick fixes that (need) to be done immediately, especially energy, education, work, and transparency, and show the Lebanese that there is a governance.” [CNN]

OPINION & ANALYSIS

Carnegie Middle East Center
An Unlikely Savior
Michael Young

Young writes, “The recent formation of Lebanon’s government provoked a minor revolution in how the Taif agreement of 1989, which served as a basis for amending the Lebanese constitution in 1990, will be interpreted from now on. The agent of change is President Michel Aoun…It’s difficult to approve of a head of state who advances his interests through the suffering of his people, yet nothing in what Aoun has done is constitutionally illegitimate. By granting the president signature power over the decree forming the government, the constitution handed the presidency immense leverage. That Aoun chose to use it should come as no surprise, given the almost insulting role reserved for his predecessors, who were mostly potted plants when governments were being devised.”

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This Week In Lebanon: 9/18/2021

Posted on September 18, 2021September 19, 2021 by admin2

September 18, 2021
New Miqati Government Moving Forward
Human Rights Organizations Call for International Investigation
Iranian Fuel Arrives in Lebanon

New Miqati Government Moving Forward
Following three committee meetings over the statement’s text, Prime Minister Najib Miqati’s cabinet unanimously approved a ministerial policy statement yesterday. Important items include immediate negotiations with the IMF and stressing cooperation in the Beirut Port blast investigation. [Naharnet] In an interview with CNN yesterday, Miqait expressed that he hoped Lebanese would put their trust in the government to implement emergency fixes to Lebanon’s energy, health, education, and work sectors as well as measures to increase government transparency. [CNN]

RESPONSE

“The new government of PM Miqati appears to be off to a quick start, with a focus on restarting IMF negotiations. It will be key for the new government to gain the trust of its citizens by focusing on subsidy reforms, stabilizing the lira, embracing cash cards for the most vulnerable, and addressing the immediate health and education needs of the Lebanese people. Importantly, the new government should begin the process of bringing electricity to its citizens and longer term reforms on customs and border controls, and should release a clear plan on how to implement these measures as soon as possible.”

-ATFL President Edward M. Gabriel

145 Human Rights Organizations and Individuals Call for International Investigation Into Beirut Blast

In a joint letter, 145 Lebanese and international human rights groups, survivors, and families of Beirut blast victims called on the UN Human Rights Council to establish an international, independent, and impartial investigation into the August 4 Beirut explosion. The letter explains that the domestic investigation initiated by the Lebanese government has faced repeated obstructions and has failed to meet benchmarks based on international standards. The letter adds, “an international investigation would not impede, but rather assist the domestic process.” [Human Rights Watch]

RESPONSE

“It is with some relief that the ministerial statement calls for cooperation between Parliament and the government to conduct a full investigation of the Beirut Port explosion. Seen as the ultimate example of corruption in the country, the lack of a transparent and complete investigation has long been a complaint of the people and the international community. Details have not been provided, yet there is a mention that immunity from testimony is subject to legal constraints. Hopefully, a full independent investigation will be part of the IMF negotiations as a way to emphasize its importance.”

-ATFL Policy Director Jean AbiNader

Iranian Fuel Arrives in Lebanon
In a deal brokered by Hezbollah, the first shipment of Iranian fuel arrived in Lebanon on Thursday. After the vessel docked in Syria, the shipment was trucked in to Lebanon by two convoys across the border. Hezbollah says three more vessels of Iranian fuel will follow and arrive in Syria soon. [Al Jazeera]

RESPONSE

“The new government faces a conundrum in its plans to reduce the distortions in the market for fuel for transportation and power generation. Will it approve the fuel oil being trucked in by Hezbollah which pledges to sell it below market price after providing it to hospitals, schools, institutions, and other service entities? Or will it wait for reassurance from the US that it will not be subject to sanctions? This is equally difficult for the US. There is no interest in penalizing the people who are in dire need. The competing efforts from Egypt and Jordan will not function for 3-4 months. So what to do in the meantime? Wisdom welcome!“

-ATFL Policy Director Jean AbiNader

Disclaimer: The views and opinions expressed are those of the author and do not necessarily reflect the position of the American Task Force on Lebanon, a non-profit, nonpartisan leadership organization of Lebanese-Americans.

Lebanon Daily News Brief 9/17/2021

Posted on September 17, 2021 by admin2

DAILY NEWS

Gasoline Prices Raised 37 Percent
Today Lebanon’s energy minister raised gasoline prices by more than 37 percent. The price raise does not fully lift the subsidy, but may be the last step before the subsidy is removed completely. While subsidies decrease, Lebanon’s government introduced a cash card system last month for over 500,000 families in effort to help reduce the sting of price raises. [Reuters]

New Finance Minister Renews BDL Forensic Audit
Today Lebanon’s new finance minister signed a government contract with Alvarez & Marsal, renewing the firm’s deal to conduct a forensic audit of the central bank. The forensic audit of Banque du Liban is an essential demand by the International Monetary Fund and international donors. [AP]

Ministerial Policy Statement Approved
Following three committee meetings over the statement’s text, Prime Minister Najib Miqati’s cabinet unanimously approved a ministerial policy statement yesterday. Important items include immediate negotiations with the IMF and stressing cooperation in the Beirut Port blast investigation. [Naharnet] Parliament Speaker Nabih Berri called for a plenary session to be held on Monday to review the statement and to vote on granting confidence to the government. [Naharnet]

Lebanon Receives $1.139 Billion in SDRs from IMF
Lebanon’s finance ministry announced today that it has been informed that $1.39 billion in Special Drawing Rights from the IMF has been deposited into its Central Bank account. [LBCI]

OPINION & ANALYSIS

What Should be the Priorities for the Miqati Government?
Jean AbiNader

AbiNader writes, “To address corruption, the core issues are completing an independent and transparent investigation of the Beirut Port explosion, implementing the capital controls law passed by the Parliament to regulate currency transfers, and use existing laws to work with other countries to pursue funds spirited out of the country around the October 17, 2019 demonstrations. That’s a lot in eight months but the process has already started and will be helped by immunity for whistleblowers, a draft law already in Parliament’s hands. The ministerial statement also calls for a complete investigation of the Beirut Port blast but does not spell out by whom or a timeframe, while emphasizing that immunities from prosecution will follow existing law – not altogether reassuring.”

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Bloomberg
The Country Where the Banks Ran Out of Money
Hussein Ibish

Ibish writes, “After 13 months of foundering under caretaker prime ministers, Lebanon finally has a government. That is very good news for a country suffering from the effects of economic collapse, political intransigence, financial malfeasance and the interference of foreign powers…Fundamentally, though, nothing has changed. For the IMF and the donor community to provide fresh funds, Lebanon will be required to make significant concessions on accountability and transparency, among other conditions. It should at the least create a safety net for the mass of Lebanese who have now sunk into dire poverty so they won’t be dependent on increasingly rare handouts.”

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What Should be the Priorities for the Miqati Government?

Posted on September 17, 2021 by admin

There is no mystery about the challenges facing the new government, both from within the new lineup and the street. Miqati’s team is already showing tendencies to argue to protect and project their interests while the overall need is for a national consensus about what can be done in the next eight months to make a difference in the economic and political life of the Lebanese.

Based on conversations both in the US and abroad, a complete list of priorities is difficult since the time is short. But here are some that are both doable and necessary.

As the ministerial statement emphasizes, the first priority is to start negotiations with the IMF to stop the economic slide, put more money in people’s pockets, address corruption, and start the long process of reconstruction. Begin by dividing the Special Drawing Rights coming into the Central Bank amounting to some $1.13 billion, into three pots: one to replace subsidies and fund the cash cards, the second is to strengthen the Central Bank’s liquidity and the Lebanese lira so that it has real purchasing power, and the third is to maintain essential support for the LAF and ISF.

To address corruption, the core issues are completing an independent and transparent investigation of the Beirut Port explosion, implementing the capital controls law passed by the Parliament to regulate currency transfers, and use existing laws to work with other countries to pursue funds spirited out of the country around the October 17, 2019 demonstrations. That’s a lot in eight months but the process has already started and will be helped by immunity for whistleblowers, a draft law already in Parliament’s hands. The ministerial statement also calls for a complete investigation of the Beirut Port blast but does not spell out by whom or a timeframe, while emphasizing that immunities from prosecution will follow existing law – not altogether reassuring.

There are several ways to provide people with a better standard of living: increase the value of the lira, increase the supply of essential products and services, and reduce their costs. Building trust and bringing stakeholders into the process is critical. Immediate reform and restructuring of the electricity sector is the priority as a consistent power supply enables businesses, public services, transportation, and IT to move forward. The competing fuel supplies from Iran and the three-way transfer of electricity and Egyptian fuel oil through Jordan and Syria must precariously balance the needs of the people versus enriching those who can manipulate the energy supply scenario to enhance their political bona fides.

With electricity and power restored, emergency services, hospitals, schools, the water system, and other key components can recover and restart, giving people a sense of normalcy. While electricity is only the start, there can also be a push to implement legislation already in the Parliament that would advance other infrastructure reforms such as telecommunications and the ports, reduce the national budget, provide oversight for expanding the social services safety net, and prepares the necessary conditions for free and fair elections.

Creating domestic credibility and momentum by initiating visible and impactful positive steps will help ease the brain drain and restore some impetus for increased remittances and overseas investments.

The political agenda also has several components: supporting the LAF and ISF, efficiently preparing for free and fair elections, and taking the necessary steps on a rigorous timetable to fully inform voters of their rights and the process to follow. The need for security has become a major concern for the Lebanese, and so supporting the overall security apparatus is both an economic and political priority. Protection of civil and human rights must again be at the forefront of those responsible for public order. Once IMF negotiations are successful, it would be very helpful for the US, UK, and Germany to resume their training programs, assist in building an effective national vaccination campaign, and ensure that morale is strengthened.

It is inevitable that there will be political frictions among the members of the Cabinet and Parliament who will resist the erosion of their sectarian interests. PM-designate Miqati has come this far using his powers of persuasion and deep knowledge of the players. Moving this lineup to adopt a ministerial statement that shows determination and sacrifice from the top will start to bring credibility and trust to ties with the people. The statement adopted after three rounds of negotiations is a start, but it will be subject to a great deal of scrutiny. There will be no honeymoon period. The time to act is now.

The views and opinions expressed here are those of the author and do not necessarily reflect the position of the American Task Force on Lebanon.

Lebanon Daily News Brief 9/16/2021

Posted on September 16, 2021 by admin2

DAILY NEWS

Iranian Fuel Arrives in Lebanon
In a deal brokered by Hezbollah, the first shipment of Iranian fuel arrived in Lebanon today. After the vessel docked in Syria, the shipment was trucked in to Lebanon by two convoys across the border. Hezbollah says three more vessels of Iranian fuel will arrive in Syria soon. [Al Jazeera]

Judge Bitar Issues Arrest Warrant for Former Minister
The lead judge of Lebanon’s domestic investigation into last year’s Beirut Port blast has issued an arrest warrant for a former government minister. Former public works minister Youssef Fenianos had failed to appear for questioning, leading to the arrest warrant issued by Judge Tarek Bitar. Bitar charged Fenianos and three other senior officials with intentional killing and negligence that led to the deadly port blast. [AP]

EU Parliament Calls for Continued Threat of Sanctions
Earlier this week, EU foreign policy chief Josep Borrell said that the threat of sanctions on Lebanese officials are no longer needed because Lebanon has formed a government. EU parliament members are responding with calls for sanctions on Lebanese officials should they obstruct the progress of the newly formed government. No names have been identified, but the EU parliament hopes the threat of sanctions will keep politicians focused on addressing Lebanon’s crises. [Reuters]

OPINION & ANALYSIS

Financial Times
Shifting Geopolitics Offer Glimmer of Hope for Lebanon’s New Government
David Gardner

Gardner writes, “If the politics are the same, the geopolitics may be changing somewhat. France has been lobbying for a government of independents for a year, but recently President Emmanuel Macron targeted Iran, calling the new Iranian president, Ebrahim Raisi directly. Once Tehran assented to the new government, Hizbollah, its Lebanese paramilitary proxy, followed and, as a de facto parallel state, ensured the support of its Christian allies, headed by Michel Aoun, the president who had vetoed various cabinets. This looks to be part of a pattern after the US withdrawal from Afghanistan, and its gradual pullback from Syria and Iraq. Regional actors from Iran to Saudi Arabia are exploring de-escalation. If that progresses, countries like Lebanon, arenas of deadly competing influences, might just benefit.”

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The National
Lebanon Finally Has a Government, But Gebran Bassil Remains In Its Way
Michael Young

Young writes, “It took over a year for Lebanon’s political class to form a government, but many Lebanese are not sure whether to celebrate, even if most will admit that a continuation of the political vacuum was no longer tenable. But under the best of circumstances, Najib Mikati’s government will face multiple difficulties…Politically, Mr Mikati will have to deal with the political ambitions of Gebran Bassil…While Mr Mikati was unwilling to form a government that would have given the President and his son in law effective veto power, he accepted a compromise on two Christian ministers named outside of Mr Aoun’s and Mr Bassil’s quota. The ministers were chosen in agreement by Mr Aoun and Mr Mikati. This may create problems. While the two ministers are on good terms with both the President and Prime Minister, if they were to side with Mr Aoun in the future, that could give him and Mr Bassil the leverage they need to advance Mr Bassil’s interests, thereby undermining all Cabinet cohesion to Mr Mikati’s disadvantage.”

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Lebanon News Brief 9/15/2021

Posted on September 15, 2021 by admin2

DAILY NEWS

145 Human Rights Organizations and Individuals Call for International Investigation Into Beirut Blast
In a joint letter, 145 Lebanese and international rights groups, survivors, and families of Beirut blast victims called on the UN Human Rights Council to establish an international, independent, and impartial investigation into the the August 4 Beirut explosion. The letter explains that the domestic investigation initiated by the Lebanese government has faced repeated obstructions and has failed to meet benchmarks based on international standards. The letter adds, “an international investigation would not impede, but rather assist the domestic process.” [Human Rights Watch]

Egyptian Minister Says Gas Will Reach Lebanon in Three Months
Egypt’s Oil Minister Tarek El Molla told Bloomberg yesterday that natural gas from the country will be delivered to Lebanon through Jordan and Syria within three months. Jordan and Syria will need to assess and update their infrastructures in order to transfer the requested 60 million cubic feet per day of natural gas. Lebanon also needs to submit a funding request to the World Bank for the project. [Bloomberg]

Ministers Class Over Electricity File
Yesterday the new ministry committee tasked with drafting the government’s policy statement met for the second time. Infighting over the electricity file reportedly broke out between ministers of the Free Patriotic Movement and Amal. Sources say that Amal ministers insisted on limiting the naming to the Deir Amar and al-Zahrani plants, “signaling that Salaata should be dropped from the government’s program.” [Naharnet] Today the committee is expected to finish up the new policy statement focused on economic and social issues. [Naharnet]

OPINION & ANALYSIS

Middle East Institute
Damned if you do and damned if you don’t: A new government in Beirut
Christophe Abi-Nassif

Abi-Nassif writes, “Looking ahead, Mikati’s cabinet faces immediate challenges and priorities, many of which he articulated himself: containing the impact of COVID-19, undertaking reforms (without specifying their scope), reconstructing the Beirut port (without addressing the ongoing investigation into the blast), and organizing elections in the spring. However, the main and purposefully underdiscussed bottleneck — the one with the most lasting repercussions on Lebanon’s society and economy for generations to come — continues to be the recognition and distribution of the tens of billions of dollars in systemic losses. This remains both the precursor to and the centerpiece of any all-encapsulating plan to put an end to the collapse, including any potential negotiations with the International Monetary Fund. While international partners have understandably welcomed the formation of a government, doubling down on the fair and comprehensive resolution of Lebanon’s commercial and central banking crises is more critical than ever.”

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Al Bawaba
Can the New Cabinet Lift Lebanon Out of Its Crisis?
Marwan Asmar

Asmar writes, “At last Lebanon can breathe or its people should be able to breath soon or soon enough. Really, this is the bottom line, from now on it should be an upward curve but there is optimism with lots of caution…In the present cabinet military men, medical doctors, judges, a member of the State Shura Council, a journalist, a pharmacist, dentist and an engineer – all from top universities including MIT from the United States. It’s a sort of hodge-podge of professional background with people chosen as experts in their fields. One criticism however, is that they are drawn from different political parties and movements like Hizbollah, Amal, Free Patriotic Movement, Progressive Socialist Party and the Lebanese Democratic Party. But no matter for this is Lebanon. At least the major hurdles to tackle the crisis will start to be moved although cynics are still unhappy but in Lebanon it is you got what you got and try and live with it. The situation has never been as bad as it is today and if tinkering would do the trick then why not. At least the meltdown can be reverted.”

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The National
Lebanon Finally Has a Government, But Gebran Bassil Remains In Its Way
Michael Young

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Lebanon Daily News Brief 9/14/2021

Posted on September 14, 2021September 16, 2021 by admin2

DAILY NEWS

Nasrallah Says First Shipment of Fuel to Arrive by Thursday
Yesterday Hezbollah chief Hassan Nasrallah announced that the arrival of the first shipment of Iranian fuel to Lebanon will reach the country by Thursday. The vessel carrying the oil has reportedly docked in Syria and will be trucked into Lebanon across the border. Nasrallah says the second ship should arrive in Syria in the next few days, and the third and fourth will follow shortly. [Al Jazeera]

New Finance Minister to Sign Forensic Audit Contract
Outgoing Finance Minister Ghazi Wazni said that the government’s contract with Alvarez & Marsal, the firm conducting a forensic audit of Lebanon’s central bank, will be handed over to the new government for signing in the next few days. The new Finance Minister, Youssef Khalil, is a former central bank official. The audit of the central bank is a key requirement to unlock foreign aid for Lebanon. [Reuters]

Lebanon Continues to Face Critical Medicine Shortages
Lebanon continues to face critical medicine and medical supply shortages. Pharmacy shelves remain bare and the drug shortages threaten the lives of tens of thousands of people. Cancer patients fear they won’t be able to access their medication to complete treatments. Visitors and Lebanese expats have been filling their suitcases full of sorely needed medications to give to relatives and friends during their trips to Lebanon. [AP]

OPINION & ANALYSIS

Middle East Institute
Damned if you do and damned if you don’t: A new government in Beirut
Christophe Abi-Nassif

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Lebanon Daily News Brief 9/13/2021

Posted on September 13, 2021 by admin2

DAILY NEWS

Lebanon’s New Cabinet Holds Its First Session
Lebanon’s new cabinet held its first session today at Baabda Palace followed by a closed door meeting between President Aoun, Prime Minister Miqati, and Speaker Berri. A committee was formed by Miqati to draft the ministerial policy statement in which Aoun says he hopes will include negotiations with the IMF. [Naharnet] Miqati says that the resumption of IMF talks are a priority as is addressing the fuel and medicine shortages. [Reuters]

BDL to Receive $1.35 Billion in Special Drawing Rights
Lebanon’s finance ministry said today that the Banque du Liban will receive $1.35 billion in special drawing rights (SDRs) from the IMF. The funds are said to arrive this week, on September 16. The SDRs now include both $860 million that was allocated this summer in addition to $275 million from 2009. [Al Arabiya]

Central Bank Allows Fuel Imports at LL8,000 to the Dollar
Five of seven ships carrying fuel for Lebanon have reportedly reached Lebanese waters and have been waiting for days to offload. The central bank announced that it will give pre-approvals to the companies that own the ships to import the fuel. Fuel subsidies have been significantly reduced. The central bank recently raised the exchange rates from LL1,500 to the dollar to LL3,900 to the dollar, and now the fuel on these seven ships will be subsidized at LL8,000 to the dollar. [Naharnet]

OPINION & ANALYSIS

Carnegie Middle East Center
Najib Mikait Has Formed a New Lebanese Government
Michael Young

Young writes, “Politically, there are many minefields ahead. Gebran Bassil still wants to become president and this may very well affect cohesion in the cabinet if he decides to order the ministers he named to block unpopular government decisions so he can gain favor. Without a sense of common purpose in the cabinet, Mikati’s plans may be derailed, so the prime minister will have to be agile in managing his differences with the president and his son in law to avoid deadlock. But for now, the Lebanese will breathe a sigh of relief. They have received only bad news for two years, and now may see some light, albeit a very pale light, at the end of the tunnel.”

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Lebanon Daily News Brief 9/10/2021

Posted on September 10, 2021 by admin2

DAILY NEWS

Lebanon Announces a New 24-Minister Cabinet
After 13 months of political deadlock, Lebanon announced a new government under Prime Minister Nijab Miqati. Earlier today Miqati said through tears that the government will work to stop the country’s economic collapse and will soon launch a rescue plan. [AP] Lebanese media outlets circulated the new 24-minister cabinet lineup as announced today by the secretary general of the council of ministers. [Naharnet]

Lebanese Pound Rises Upon Government Announcement
The Lebanese pound began rising today after the announcement of Prime Minister Miqati’s new government. The pound hit a record low after Prime Minister-designate Saad Hariri’s resignation in July at LL23,000 to the dollar. This week it fluctuated around LL18,000-19,000 and today was sold on the black market at LL17,000 to the dollar. [The 961]

Caretaker Energy Minister Briefs Aoun on Gas Import Project
Yesterday President Michel Aoun met with Lebanon’s caretaker Minister of Energy to review the talks the minister held in Amman surrounding the plan to import gas from Egypt and electricity from Jordan through Syria. Pipelines and electricity lines in Syria still need to repairs from the damage caused by civil war. Lebanon is working with the World Bank to secure financing for the project. [Naharnet]

OPINION & ANALYSIS

Time to Show Up for Work
Jean AbiNader

AbiNader writes, “With so much at stake, there are many good wishes for Miqati’s success, if the new cabinet is committed to implement change in the right directions. Perhaps two banners might be helpful in focusing the government’s efforts. I would suggest the first being “Time to Show up for Work,” indicating the resolve of the new government to move towards higher standards of accountability in its performance, beginning with electricity, telecommunications, and port reforms that will attract foreign investment into the country and support tourism. Ensuring that the municipal and parliamentary elections take place as scheduled will be a key marker of their commitment. Dealing with the inadequacies of the subsidy regime, by its elimination and replacement with a World Bank monitored cash card system, will pave the way to restore liquidity to the economy and create conditions for a currency board or other facility to reinvigorate the value of the Lebanese lira. None of these are simple, but the legislative and policy guidelines are already in place or accessible to move quickly if there is a will and a commitment to show up for work.”

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