Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious OutperformanceFind Stocks Now

Hariri, back as Lebanon's PM, vows to halt collapse

Published 10/22/2020, 02:16 AM
Updated 10/22/2020, 10:12 AM
© Reuters. FILE PHOTO: Lebanon's President Michel Aoun speaks during a news conference at the presidential palace in Baabda

By Ellen Francis and Maha El Dahan

BEIRUT, (Reuters) - Lebanese veteran politician Saad al-Hariri was named prime minister for a fourth time on Thursday and pledged to form a new government that can tackle the country's worst crisis since its 1975-1990 civil war.

After his nomination, Hariri said he would quickly form a cabinet of specialists "with a mission to enact the economic and financial reforms" set out in a French plan to get foreign aid.

But he faces major challenges to navigate Lebanon's sectarian politics to agree a cabinet, which must then fix a mounting list of woes: a banking crisis, currency crash, rising poverty and crippling state debts.

A new government will also have to contend with a COVID-19 surge and the fallout of the August explosion at Beirut port that killed nearly 200 people and caused billions of dollars of damage.

The blast prompted the outgoing government, which succeeded Hariri's last administration, to quit.

At 50, Hariri has already served three terms since 2009 as premier - a post reserved for a Sunni in Lebanon's power-sharing system. His last cabinet was toppled almost exactly a year ago as protests gripped the country, furious at the ruling elite for decades of state graft and waste.

Hariri, the sole candidate in Thursday's talks, was backed by a majority of parliamentarians.

"I tell the Lebanese who are suffering from hardships to the point of despair that I am determined to work to stop the collapse that is threatening our economy, our society and security," he told reporters.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

"IN A LOOP"

Senior U.N. official Jan Kubis warned Lebanon's "traditional political forces" the country would not survive without an effective government to ward off chaos. "Do not count on miracles, foreign elections or external donors – the rescue must start in Lebanon, by Lebanon," he tweeted.

The nomination of Hariri, long aligned with Western and Gulf states, follows weeks of political wrangling that has delayed a deal on a new government. He was backed by his own Future Movement, the Shi'ite Amal party, Druze politician Walid Jumblatt's party and other small blocs.

The heavily armed Shi'ite group Hezbollah, which took part in Hariri's last coalition cabinet, did not nominate anyone but said it would seek "to maintain the positive climate."

Together with its allies, including Amal and Aoun's party, they hold a majority in parliament.

Lebanon's two main Christian blocs did not nominate Hariri. The Free Patriotic Movement, led by Aoun's son-in-law, said a veteran politician could not lead a technocrat government.

Its rival the Lebanese Forces, the second biggest Christian bloc and a staunch Hezbollah opponent, also declined to name him.

Former colonial power France has tried rallying Lebanon's sectarian leaders but has been frustrated by the apparent lack of urgency or progress.

Hariri has presented himself as the "natural candidate" to build a cabinet that can revive the French roadmap, which lists long-neglected reforms and calls for resuming IMF talks.

Many in Beirut remained skeptical that any change would come. Even in the Tariq al-Jadida district where the Hariri family holds sway, Lebanese were weary after a year of turmoil had turned public uproar into despair.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

"Even if they bring a divine prime minister down from the sky, a government in Lebanon would not work, because fundamentally, there's no state," shop owner Adnan said.

In Beirut's Hamra street, Marwa Hodeib said she felt stuck in a loop. "I think we might all leave the country and they'll still be here."

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.