Egypt's NUCA, SHMFF sign New Cairo land allocation for integrated urban project    CIB named Egypt's Bank of the Year 2025 as factoring portfolio hits EGP 4bn    Egypt declares Red Sea's Great Coral Reef a new marine protected area    Oil prices edge higher on Thursday    Gold prices fall on Thursday    Egypt, Volkswagen discuss multi-stage plan to localise car manufacturing    Egypt denies coordination with Israel over Rafah crossing    Egypt to swap capital gains for stamp duty to boost stock market investment    Egypt tackles waste sector funding gaps, local governance reforms    Egypt, Switzerland explore expanded health cooperation, joint pharmaceutical ventures    Egypt recovers two ancient artefacts from Belgium    Private Egyptian firm Tornex target drones and logistics UAVs at EDEX 2025    Egypt opens COP24 Mediterranean, urges faster transition to sustainable blue economy    Egypt's Abdelatty urges deployment of international stabilisation force in Gaza during Berlin talks    Egypt, Saudi nuclear authorities sign MoU to boost cooperation on nuclear safety    Giza master plan targets major hotel expansion to match Grand Egyptian Museum launch    Australia returns 17 rare ancient Egyptian artefacts    China invites Egypt to join African duty-free export scheme    Egypt calls for stronger Africa-Europe partnership at Luanda summit    Egypt begins 2nd round of parliamentary elections with 34.6m eligible voters    Egypt warns of erratic Ethiopian dam operations after sharp swings in Blue Nile flows    Egypt scraps parliamentary election results in 19 districts over violations    Egypt extends Ramses II Tokyo Exhibition as it draws 350k visitors to date    Egypt signs host agreement for Barcelona Convention COP24 in December    Al-Sisi urges probe into election events, says vote could be cancelled if necessary    Filmmakers, experts to discuss teen mental health at Cairo festival panel    Cairo International Film Festival to premiere 'Malaga Alley,' honour Khaled El Nabawy    Egypt golf team reclaims Arab standing with silver; Omar Hisham Talaat congratulates team    Egypt launches National Strategy for Rare Diseases at PHDC'25    Egypt launches Red Sea Open to boost tourism, international profile    Omar Hisham Talaat: Media partnership with 'On Sports' key to promoting Egyptian golf tourism    Sisi expands national support fund to include diplomats who died on duty    Egypt's PM reviews efforts to remove Nile River encroachments    Egypt resolves dispute between top African sports bodies ahead of 2027 African Games    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Russia says it's in sync with US, China, Pakistan on Taliban    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.



Under 'financial siege', Lebanon must stave off strife, says Bassil
Published in Ahram Online on 07 - 07 - 2020

Lebanon is facing a "financial siege" imposed by international powers and its priority is staving off strife caused by the country's economic meltdown, leading politician Gebran Bassil said on Tuesday.
Bassil, an ally of the Iran-backed Shi'ite group Hezbollah, said he supported talks with the International Monetary Fund (IMF), hoping they would pressure the state into reforms, but that Lebanon was running out of time and any foreign aid could not come at the price of sovereignty.
Talks with the IMF were put on hold last week after becoming bogged down by a dispute on the Lebanese side over the scale of losses in the financial system and pending the start of reforms to address the root causes of the crisis, 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 serious reforms sought by donors including the United States and France, which say Beirut 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 said in an interview.
"When there is a desire to help Lebanon, tomorrow the gates will be opened. And when there are great powers blocking the gates, Lebanon does not have capacity to open them."
"The absolute priority ... is how to keep Lebanon away from anarchy and strife."
Lebanese must also be protected from extreme poverty, said Bassil, a son-in-law of President Michel Aoun.
Hezbollah is classified as a terrorist group by the United States. The group's influence in state affairs has grown since it won a parliamentary majority with its allies in 2018.
Opponents say the alliance forged by Aoun and Bassil with the heavily-armed Hezbollah has provided political cover for its arsenal.
Though critics say he exercises wide influence over the government, Bassil said no ministers were members of the Free Patriotic Movement he leads, and the cabinet must accelerate reforms.
"We don't accept this model of low productivity," he said of the government, which he said could not continue if it failed to do more.
Asked if he saw a risk to peace, Bassil said: "Of course this fear exists."
The response, he said, was "in national unity" and dialogue.
He warned of the risk of "an international game" unfolding to weaken Lebanon 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.


Clic here to read the story from its source.