LEBANON: LANDMARK ENERGY DEAL WITH ISRAEL UNDERMINED BY POLITICAL INSTABILITY

   Wed, 02 November 2022

Lebanese President Michael Aoun has resigned without a designated successor in place, creating a vacuum that risks plunging the country into more political and economic chaos. Lebanon also only has a caretaker government with restricted powers, at a time when the economy has contracted for four consecutive years. Key reforms to unlock much-needed funding from the International Monetary Fund (IMF) to alleviate Lebanon’s economic woes are unlikely to be implemented by the end of the year due to the persistent political paralysis and deep-rooted corruption that continue to threaten stability in the country.

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