BEIRUT, ONE YEAR ON: THE LAST CALL FOR LEBANON

The MED This Week newsletter provides expert analysis and informed insights on the most significant developments in the MENA region, bringing together unique opinions on the topic and reliable foresight on future scenarios. Today, we focus on Lebanon, where an unprecedented economic crisis is putting the population in dire living conditions. Meanwhile, a year after the explosion at Beirut’s port, the political class has failed to form a new government.

One year after the Beirut blast, Lebanon is still struggling with its worst economic crisis since the 1975-1990 civil war. After the tragic explosion — which killed 200 people, injured 6,500 and displaced 300,000 — Prime Minister Hassan Diab’s resignation was not followed by the formation of a new government. On July 26th, President Michel Aoun appointed the Sunni businessman and former PM Najib Mikati to form a new cabinet. The decision came after the approval of the majority of lawmakers — 72 out of 118 — with the Shiite parties Hezbollah and Amal backing the PM-designate against Christian lawmakers, who firmly opposed him. Mikati’s appointment follows Saad Hariri’s decision to step down after nine-month-long attempts at forming a new government. Crucially, political stability is necessary for foreign financial aid, particularly following the EU’s warning last May that it would sanction Lebanese politicians responsible for blocking the formation of a new government. Mikati, who has already assured he will implement the France-led reform plan, faces a plethora of critical issues. The economic crisis, which exacerbated the impact of the Covid-19 pandemic, has led to a 90% drop in the value of the Lebanese pound in less than two years, while the Lebanese population is bearing the brunt of hours-long power cuts and several shortages of fuel, medicine, and basic goods. Against this backdrop, the population has mobilised all over the country in recent years, demanding real change in the nation’s politics and transparent investigations into the explosion at Beirut’s port — something that will further complicate Mikati’s mission.

Experts from the ISPI MED network react to the political deadlock and economic crisis of Lebanon one year after the Beirut explosion.

BEIRUT, ONE YEAR ON: THE LAST CALL FOR LEBANON

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