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2021-09-17 Syria-Lebanon-Iran
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Lebanon's new cabinet agrees policy program
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[ENGLISH.ALARABIYA.NET] Leb
 ...an Iranian colony situated on the eastern Mediterranean, conveniently adjacent to Israel. Formerly inhabited by hardy Phoenecian traders, its official language is now Arabic, with the usual unpleasant side effects. The Leb civil war, between 1975 and 1990, lasted a little over 145 years and produced 120,000 fatalities. The average length of a ceasefire was measured in seconds. The Lebs maintain a precarious sectarian balance among Shiites, Sunnis, and about a dozeen flavors of Christians. It is the home of Hezbollah, which periodically starts a war with the Zionist Entity, gets Beirut pounded to rubble, and then declares victory and has a parade. The Lebs have the curious habit of periodically murdering their heads of state or prime ministers, a practice dating back to the heady human sacrifice days of Baal Moloch. In 2020 Hezbollahblew up a considerable portion of Beirut and many of its inhabitants when its ammonium nitrate faci8lity exploded. They blamed it on... somebody else. It wasn't them though. Trust them on that...
’s cabinet approved on Thursday a policy program that aims to tackle one of the worst financial meltdowns in history.
New Prime Minister Najib Mikati’s government met at the presidential palace to agree the proposal, which will now be sent to parliament for approval.
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On Wednesday Rooters saw the draft document, which included a resumption of negotiations with the International Monetary Fund and a restructuring of the banking sector.
An official source told Rooters the policy program was agreed to without any major changes to the draft.
The Lebanese pound significantly strengthened against the dollar in the past week since the cabinet was formed, selling at around 13,800 to the U.S. dollar on Thursday at the street rate after having reached 23,000 to the dollar last month.
The draft program had said the Mikati government would renew and develop the previous financial recovery plan, which set out a shortfall in the financial system of some $90 billion - a figure endorsed by the IMF.
Lebanon’s financial crisis was dubbed by the World Bank one of the worst depressions of modern history.
The scale of the losses was a main sticking point that brought down the plan last year when major political players and bankers disputed their scale and the talks were eventually abandoned last summer.
With the rate of deterioration in living conditions accelerating over the past year and shortages of basic goods such as fuel and medicine bringing life to a near standstill, some believe the gravity of the crisis could encourage politicians to pass decisions that were previously resisted.
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Posted by Fred 2021-09-17 00:00||
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