Tag Archives: Lebanon Economic Crisis

Lebanon’s parliament approved critical changes on Thursday to its banking secrecy laws, marking a significant step toward securing international financial support. The reform, long sought by the International Monetary Fund (IMF), coincides with high-level meetings between Lebanese officials and global financial institutions in Washington. According to a statement from Speaker Nabih Berri’s office, lawmakers voted in favor of amending both …

U.S. President Donald Trump has named Lebanese-American businessman Michel Issa as the next U.S. ambassador to Lebanon. The announcement was made through a post on Trump’s Truth Social platform, where he praised Issa’s extensive background in finance, banking, and international trade. Highlighting Issa’s leadership and expertise, Trump expressed confidence in his ability to represent the United States effectively in Lebanon. …

Lebanon’s recovery and reconstruction needs have been estimated at approximately $11 billion following the intense conflict between Israel and Hezbollah, which ended with a ceasefire in late November. According to assessments covering the period from October 8 to December 20, 2024, the war caused extensive physical destruction and severe economic losses, pushing Lebanon’s already fragile economy further into crisis. The …

After weeks of intense political negotiations, Prime Minister Nawaf Salam successfully formed a government on Saturday, marking the end of over two and a half years of caretaker leadership in Lebanon. Salam had previously committed to excluding political party members from ministerial positions, aiming to break away from Lebanon’s long-standing sectarian and corruption-linked political system. However, given the country’s sectarian-based …

A senior U.S. official said on Friday that Hezbollah’s involvement in Lebanon’s new government is a red line for Washington, while he described the Iran-backed group as “defeated” in its conflict with Israel, in an interview during a visit to Beirut. Ortagus’ visit comes as Prime Minister-designate Nawaf Salam faces ongoing challenges in forming a government amid intense political pressure …

Prime Minister-designate Nawaf Salam will hold non-binding parliamentary consultations on forming a new government on Wednesday and Thursday, according to a statement from Parliament’s Secretariat-General. The consultations will begin on Wednesday, with Salam meeting parliamentary blocs between 10:00 a.m. and 6:00 p.m. On Thursday, he will meet with independent MPs from 10:00 a.m. to 6:45 p.m., as outlined in the …