Beirut: France urged Lebanon on Friday to appoint the prime minister as soon as possible after Saad Al-Hariri left an attempt to form a government, but the prospect for the new cabinet agreed upon soon looked gloomy after months of political conflict.
Lebanon seems to fall deeper into economic collapse with many sectarian politicians who move their focus to next year’s election than the new government or financial rescue plan, it does not seem to be affected by the threat of Western sanctions.
The collapsed Lebanese currency has reached a new low after Hariri’s decision.
The dollar changed hands at a rate of more than 22,500 pounds on Friday, removing more than 90% of the pound value in less than two years.
The financial destruction, which is considered by the World Bank as one of the deepest depression of modern history, has pushed more than half the population into poverty and leads to a shortage of basic goods that deteriorate such as fuel and medicine.
France, who has led international efforts to face the crisis, said Gridlock was “intentionally enforced” and announced a new international conference on August 4, the first warning of the devastating Port Beirut explosion, to address the needs of the Lebanese population.
Announced his decision to retreat on Thursday, Hariri said he was clear and president, Michel Aoun, could not agree.
He did not talk about coincidence on the strategy to save the economy, but said the argument went down to the pressure of Aoun to maintain a minority that prevents the cabinet.
Their struggle was colored by sectarianism, Pitting Hariri, a leading Sunni Muslim politician in Lebanon, against the head of Christian Maronit which was supported by the Lebanese Shi’ite Muslim group supported by Iran Hezbullah.
Hariri said on Thursday Hizbullah was not enough to get aoun to compromise.
In a message for his followers, he said, “We will respond through the ballot box”.
Aoun said on Thursday he would call a binding consultation with parliamentarians to mention the new prime minister as soon as possible.
The post must be filled by Sunni under the Lebanon sectarian system.
But Hariri said he would not call anyone, and political sources and analysts said it would be very difficult to find Sunni politicians willing to accept work without his blessings.
“Now we face a new challenge that will not be easy because there is no agreed B plan,” said a source close to the Presidency.
‘Prime Minister Prime Death was slow, Hassan Diab, whose cabinet stopped after the Port Beirut explosion which destroyed the capital plots, still alive in caregiver capacity.
Parliamentary selection will be held the following spring.
Hezbollah and his political allies won the last majority.
“Waiting for eight more months for parliamentary elections is awaiting slow death, and there is no guarantee that in eight months of this election will be possible,” said Ghasan Huangi, a former deputy prime minister who was included in the Lebanese troops, a Christian group who opposed Aoun and Hezbollah and who wanted the initial election.
“Whatever we see now will only be multiplied by exponential levels,” he said, referring to the currency that collapsed and health services, power outages and disadvantages.
The Lebanese central bank has transferred foreign reserves to fund subsidies to import basics such as food, fuel and medicines at a cost of around $ 6 billion per year.
Lebanon can access $ 900 million in August if the International Monetary Fund proposes an expansion of $ 650 billion from its emergency reserves, or special withdrawal rights, through.
Politicians believe this fund will provide some breathing space before the election, said political sources.
Mike Azar, a financial advisor based in Beirut, said even if the government was formed, it must be able to carry out meaningful reforms or paralysis will continue.
“The pound will continue to devalue and it will happen at accelerated speeds, there will be more product shortages when you run out of dollars to import goods and what products here will be unreachable for most people,” Azar said.
“We were in a very weak time.”
As France urged Lebanon to pick up the prime minister, the country faced even a harder time
