President Michel Aoun Addresses the Nation Following Maritime Boundary Accord In a televised address to the nation, Lebanese President Michel Aoun, announced the country’s official approval of the US-mediated agreement with the Israeli government concerning Lebanon’s southern maritime boundary. In his televised speech, he said, “This indirect agreement responds to Lebanese demands and maintains all our rights.” [AP News]
IMF Managing Director Says Talks with Lebanon ‘Stuck’ According to Reuters, “International Monetary Fund Managing Director Kristalina Georgieva on Thursday said talks with Lebanon remain stuck as the country’s officials haven’t yet implemented the prior actions needed to receive an IMF financing programme.”During a press conference Georgieva, said, “There is still this paralysis and it can only be resolved by the political leaders in Lebanon putting aside what divides them and getting to a point of serving the people of Lebanon who deserve no less.” [Reuters]
Israeli Security Cabinet Approves Maritime Accord According to AP News, “Israel’s Cabinet on Wednesday voted in favor of a U.S.-brokered maritime border deal with Lebanon, taking a new step forward toward formal approval of the agreement.” [AP News]
MP’s Fail to Elect New President in Latest Session According to the National, “Lebanon’s parliament has failed for a second time to elect the country’s next president, with not enough MPs present to reach the quorum. Speaker Nabih Berri adjourned the house until October 20, less than two weeks before the term of incumbent Michel Aoun expires.” [The National]
OPINION & ANALYSIS
Rounding Up The News From Lebanon – From The Good To The Continued Drama Jean AbiNader
AbiNader writes, “Lebanon and Israel announced their acceptance of the meticulous drafted maritime boundary negotiations thanks to the Lebanese team headed by Deputy Speaker Elias Bou Saab and the diligent mediation work of US Special Energy Envoy Amos Hochstein. After a final week of headlines like “After collapse of Lebanon maritime deal, Israel fears Hezbollah attack,” followed by another round of the two-way finger-pointing that passes for negotiations in the region, a breakthrough finally emerged over the weekend. Both Lebanon and Israel took a long look at what’s best for regional prosperity and stability, stopped the saber-rattling and instead settled on a deal that benefits both countries. There are still parties in Israel that oppose the deal based on domestic politics while the parties in Lebanon decided that progress on this front had too many benefits to ignore. So a deal was made.”
Carnegie Middle East Center Lebanon and Israel’s Maritime Deal Suspends Them Between No War and No Peace Maha Yahya
Yahya writes, “In the immediate term, the deal is likely to trigger the finalization of previously negotiated agreements to provide Lebanon with gas from Egypt and electricity from Jordan, in both cases via Syria. These agreements seem to have been held up in part by Washington’s withholding of commitments to shield Egypt and Jordan from the repercussions of the Caesar Act, a U.S. law that sanctions countries that have significant dealings with Syria. In the medium to long term, the agreement provides an economic lifeline for Lebanon at a time when it desperately needs one. Even though the actual payout is likely to take years to materialize, the hoped-for windfall from the potential gas fields could help cushion the economic crisis and pave the way for an economic recovery. The dividends would not remain limited to revenues from the actual gas fields but would extend to associated industries and shore up overall employment. A key concern for the Lebanese is that their political leadership may use this agreement as a pretext to reject a deal with the International Monetary Fund to implement ten reforms in exchange for $3 billion in relief that would help put the country on the road to economic recovery. This could mean that the expected revenue stream from the gas fields would be squandered by the governing political class on maintaining its patronage networks and further delay the needed structural changes. Pressure will now mount on Parliament to establish a sovereign wealth fund that can protect the country’s revenue streams for its future generations.”Read More Here
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.
