DAILY NEWS
IMF Questions BDL’s Dollar Withdrawal Plan
The International Monetary Fund is questioning Banque Du Liban’s decision to allow Lebanese depositors to withdraw funds in US dollars and says the plan could risk higher inflation. IMF spokesman Gerry Rice said the it was unclear how the withdrawals would be financed. He says the lack of foreign currency in Lebanon paired with the country’s need to finance imports will make it difficult to cover the withdrawals. [Bloomberg]
Macron Announces Efforts to Create a Financing Mechanism for Lebanon
Yesterday French President Emmanuel Macron said that France and other international partners are working to create a financial mechanism for Lebanon. The mechanism is meant to ensure that public services get back on track amid Lebanon’s political and economic crises. [Reuters]
Lebanon’s Medical Community Faces Severe Shortages
Pharmacies throughout Lebanon closed their businesses today while pharmacists are on strike to protest severe shortages in medicines, infant milk, and other supplies. [The Daily Star] Yesterday hospitals warned that a shortage in supplies may force suspension of kidney dialysis. Lebanon’s crises are leading to increasingly dire conditions in hospitals. [Naharnet]
OPINION & ANALYSIS
Center For Strategic & International Studies
Sustainable States: Environment, Governance, and the Future of the Middle East
A recent CSIS report included a section on Lebanon that offers the following analysis: “Lebanon’s current troubles should not surprise those who have been paying attention to basic service provision. However, in crisis lies opportunity. The country has the chance to rebuild in a way that it never did after the civil war. By leading with environmental sustainability, transparency, and cooperation, Lebanon can finally have inclusive reconstruction and renewed pride in their public goods. Companies, NGOs, and development agencies are learning that working within the existing landscape to build trust and cooperation with stakeholders is more challenging but ultimately more rewarding than simply building infrastructure unsuitable to the context. Lebanon has the talented entrepreneurs, technical experts, and motivated civil society to do this work, but they need to be empowered to work constructively with their government and communities or they will eventually look elsewhere like so many millions of their compatriots during the war.”
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.