Lebanon could ‘sink like the Titanic’
On August 4 2020 an explosion in Beirut led to the resignation of Prime Minister Hassan Diab’s government. Since then, Lebanon’s economy is sinking and the country has been without a government for more than seven months. According to the World Bank, the explosion left half of the population living in poverty and it triggered numerous nationwide protests. In March 2021, the Lebanese currency value dropped to 10,000 against the dollar while Lebanon is facing its worst crisis since the civil war.
Foreign actors, mainly Germany and France, are now putting pressure on Lebanese politicians to form a new government. Germany has proposed to the Lebanese authorities a plan to rebuild the port of Beirut and France has also agreed to take part in the reconstruction process. This proposal however is conditional on Lebanon forming a new government.
According to foreign donors, the new government should focus on implementing economic reforms, but the Prime Minister-designate Saad Hariri and President Michel Aoun have been unable to agree on a ministerial lineup so far. Using the words of Lebanon’s parliament speaker, Nahib Berri; If a government is not formed immediately, the country could ‘sink like the Titanic’.