Facing 'financial siege', Lebanon must stave off strife, head of President Aoun's party says
Record ID:
1561070
Facing 'financial siege', Lebanon must stave off strife, head of President Aoun's party says
- Title: Facing 'financial siege', Lebanon must stave off strife, head of President Aoun's party says
- Date: 7th July 2020
- Summary: SIN EL FIL, LEBANON (JULY 7, 2020) (REUTERS) VARIOUS OF FREE PATRIOTIC MOVEMENT HEADQUARTERS WITH PICTURE OF LEBANESE PRESIDENT MICHEL AOUN AND SIGN READING (Arabic): "Free Patriotic Movement, General Headquarters' VARIOUS OF PICTURES HANGING ON THE WALL SHOWING THE HEAD OF THE FREE PATRIOTIC MOVEMENT, GEBRAN BASSIL (LEFT) AND LEBANESE PRESIDENT, MICHEL AOUN (RIGHT) WITH WRITING ON WALL NEXT TO THEM READING (Arabic): "Oh great people of Lebanon"
- Embargoed: 21st July 2020 17:59
- Keywords: Aoun Bassil FPM IMF Syria civil war economy reforms siege
- Location: SIN EL FIL AND BEIRUT, LEBANON
- City: SIN EL FIL AND BEIRUT, LEBANON
- Country: Lebanon
- Topics: Government/Politics
- Reuters ID: LVA001CLTANUV
- Aspect Ratio: 16:9
- Story Text: Lebanon is facing a "financial siege" imposed by international powers and its priority is to stave off strife caused by the country's economic meltdown, leading politician Gebran Bassil said on Tuesday (July 7).
Bassil, an ally of the Iran-backed Shi'ite group Hezbollah, said he backed talks with International Monetary Fund (IMF) in the hope they would pressure the state into badly needed reforms. But he said Lebanon was running out of time and aid could not come at the price of sovereignty.
Talks with the IMF were put hold last week after being bogged down by a dispute on the Lebanese side over the scale of huge losses in the financial system and a lack of reforms to address the root causes of the crisis.
The crisis is seen as the biggest threat to Lebanon's stability since the 1975-90 civil war.
The government of Prime Minister Hassan Diab, which is backed by Bassil and Hezbollah, has yet to embark on any serious reforms as called for by donors including the United States and France, which have told Beirut it must fix state waste and corruption before any aid is released.
"What we are subjected to is an economic, financial and political siege... This doesn't pardon the state and the Lebanese from their mistakes, at the forefront of them corruption," Bassil, son-in-law of President Aoun, said.
The long-brewing crisis has sunk the Lebanese pound by around 80%, fuelling inflation and poverty. Savers have been frozen out of their deposits violent protests have erupted.
The heavily-armed Hezbollah is classified as a terrorist group by the United States. The alliance forged by Aoun and Bassil with Hezbollah has been at the heart of politics since 2006, drawing fierce criticism from opponents of the Shi'ite group who say it has provided political cover for its armed wing.
He warned of the risk of "an international game" unfolding in Lebanon, whose civil war drew in numerous foreign powers, to generate anarchy and weaken the country or "a party in Lebanon such as Hezbollah".
"Syria must be a lesson for all. It would be a shame to take Lebanon on the path to destruction once again," he said.
(Production: Imad Creidi) - Copyright Holder: REUTERS
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