Swiss freeze on Russian assets dwindles to $6.36b in '23    India's business activity booms in April    China's '40 coal cutback falls short, threatens climate    World Bank pauses $150m funding for Tanzanian tourism project    European stocks reach week-high levels    China obtains banned Nvidia AI chips through resellers    Gold loses momentum on Tuesday after strong run    Amir Karara reflects on 'Beit Al-Rifai' success, aspires for future collaborations    Russia to focus on multipolar world, business dialogues with key partners at SPIEF 2024    African Hidden Champions to host soirée celebrating rising business stars    Ministers of Health, Education launch 'Partnership for Healthy Cities' initiative in schools    Egypt explores new Chinese investment opportunities for New Alamein's planned free zone    Amstone Egypt unveils groundbreaking "Hydra B5" Patrol Boat, bolstering domestic defence production    Egyptian President and Spanish PM discuss Middle East tensions, bilateral relations in phone call    Climate change risks 70% of global workforce – ILO    Health Ministry, EADP establish cooperation protocol for African initiatives    Health Ministry collaborates with ECS to boost medical tourism, global outreach    Prime Minister Madbouly reviews cooperation with South Sudan    Ramses II statue head returns to Egypt after repatriation from Switzerland    EU, G7 leaders urge de-escalation amid heightened Middle East tensions    Egypt retains top spot in CFA's MENA Research Challenge    Egyptian public, private sectors off on Apr 25 marking Sinai Liberation    EU pledges €3.5b for oceans, environment    Egypt forms supreme committee to revive historic Ahl Al-Bayt Trail    Debt swaps could unlock $100b for climate action    Acts of goodness: Transforming companies, people, communities    President Al-Sisi embarks on new term with pledge for prosperity, democratic evolution    Amal Al Ghad Magazine congratulates President Sisi on new office term    Egypt starts construction of groundwater drinking water stations in South Sudan    Egyptian, Japanese Judo communities celebrate new coach at Tokyo's Embassy in Cairo    Uppingham Cairo and Rafa Nadal Academy Unite to Elevate Sports Education in Egypt with the Introduction of the "Rafa Nadal Tennis Program"    Financial literacy becomes extremely important – EGX official    Euro area annual inflation up to 2.9% – Eurostat    BYD، Brazil's Sigma Lithium JV likely    UNESCO celebrates World Arabic Language Day    Motaz Azaiza mural in Manchester tribute to Palestinian journalists    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Facing protests, Lebanese leaders mull reshuffle: Sources
Published in Ahram Online on 23 - 10 - 2019

Lebanese leaders are discussing a possible government reshuffle, sources said on Wednesday, to defuse unprecedented protests against the political elite that have paralysed the country for a week.
Lebanon's highest Christian Maronite authority and a prominent Druze politician threw their weight behind the groundswell for change, calling for qualified technocrats to be included in any government shake-up.
With a population of 6 million people including around 1 million Syrian refugees, Lebanon has been swept by protests against politicians blamed for corruption and waste in a state mired in debt and economic crisis.
Flag-waving protesters kept roads blocked with vehicles and makeshift barricades for a seventh day on Wednesday. Banks have been closed since Friday and will remain shut on Thursday, the banking association said. Schools are also closed.
Soldiers scuffled with demonstrators as they struggled to unblock main roads.
"We're staying in the streets until the looted public funds are restored, until the government falls," said Heba Haidar, protesting at a makeshift barricade of empty trash containers and steel rods in Beirut.
Prime Minister Saad al-Hariri's government announced an emergency reform package on Monday, to try to assuage public anger and steer the state away from a looming financial crisis.
Hariri's government, which took office at the start of the year, groups nearly all of the main parties in a sectarian power-sharing system.
The idea of a reshuffle "is being discussed widely among politicians in the country and we might get there if the protests remain in the street in the coming days", a senior political source said.
Another political source said the idea was "starting to mature". "The street is imposing its rhythm on the political class," he added.
Both spoke on condition of anonymity as the consultations have not been made public.
"THE PEOPLE'S DEMANDS"
Maronite Patriarch Bechara Boutros Al-Rai, speaking alongside other top church leaders, said the measures announced by Hariri were a "positive first step" but also required replacing current ministers with skilled technocrats.
"We call on the president of the republic ... to immediately begin consultations with the political leadership and the heads of the sects to take the necessary decisions regarding the people's demands," he said.
Druze politician Walid Jumblatt said he backed the idea of a reshuffle. "A major reshuffle of the government could satisfy some of the demonstrators' demands," he told Reuters.
Lebanon's unrest is the latest in a flare-up of protests around the world - from Hong Kong and Barcelona to Quito and Santiago - each having its own trigger but sharing some underlying frustrations.
"We need to stay strong," said Manal Ghanem, a university graduate who works at a coffee shop, as she stood by a barricade in Beirut.
Mohammad Jana, 36, an unemployed chef at a roadblock on a main highway, said future generations were inheriting massive public debt. "They are stealing. The least we can do is civil disobedience," he said.
Lebanon's economy, whose mainstays include construction and tourism, has suffered years of low growth due partly to regional turmoil. Capital inflows have ebbed.
Lebanon has one of the world's highest levels of public debt compared to the size of its economy at around 150%.
The financial system is facing strains unseen since the 1975-90 civil war. Hard currency has become hard to obtain at the official exchange rate and a parallel market has emerged.
Parliament Speaker Nabih Berri, a Shi'ite Muslim, said Lebanon could not remain in such chaos and he feared any power vacuum.
The government measures included halving ministers' salaries and steps toward implementing long-delayed reforms needed to fix the state finances.
Under pressure to reduce the budget deficit, Hariri has said the central bank and commercial banks would contribute 5.1 trillion Lebanese pounds ($3.4 billion) to help plug the gap in 2020, including through an increase in taxes on bank profits.
But Moody's warned that confidence in the government's ability to service debt could be further undermined through its plan to force banks to accept a lower interest rate on its debt.
Hariri met Central Bank Governor Riad Salameh and a delegation from the Association of Banks in Lebanon.


Clic here to read the story from its source.