French President Emmanuel Macron convened an international donor conference on the first anniversary of the destruction of most of the capital by a large-scale explosion in the port of Beirut. He criticized the “failed” Lebanese political class and believed that The class is responsible for the economic turmoil in Lebanon.
The Lebanese cabinet resigned after the disaster on August 4, 2020. Since then, it has been managing affairs as a caretaker government. The country’s currency collapsed, jobs disappeared, and bank accounts were frozen. The lenders called it the worst financial crisis in modern times. one.
Even as Lebanon is plunged into deeper turmoil, political quarrels have prevented the formation of a new cabinet needed to obtain international assistance.
On Wednesday, Macron, as the host, stated in the opening speech of the UN-supported meeting, “Lebanese leaders seem to be betting on a strategy of delay. I regret that. I think this is a historic and moral failure.” Aims to raise at least US$350 million.
“The Lebanese political class will not receive a blank check. Because, since the beginning of the crisis, and before the beginning of the crisis, it is them who have failed.”
France has led international efforts to get its former colonies out of crisis. After the explosion, Macron visited Beirut twice, offered emergency assistance and imposed a travel ban on some senior Lebanese officials. He also persuaded the EU to agree on a sanctions framework to be used.
The French President also stated that Lebanon’s top priority is still to form a government capable of implementing reforms. He promised to provide Lebanon with another 100 million euros (118.5 million U.S. dollars) of emergency assistance and 500,000 doses of the new crown vaccine for the country.
Macron’s office stated that US President Joe Biden will join about 40 other world leaders in a conference co-sponsored by the United Nations.
The meeting after the bombing last year raised about 280 million U.S. dollars. The emergency assistance was not given to politicians, but to non-governmental organizations and aid groups.
Macron’s office stated that the new assistance will be unconditional, but the approximately US$11 billion raised in 2018 is still locked up, and whether it is issued depends on whether a series of reforms can be implemented.
The World Bank calls Lebanon’s crisis one of the worst depressions in modern history. Since the outbreak of the economic crisis in 2019, the currency has depreciated by more than 90% against the U.S. dollar, and more than half of the population has fallen into poverty.
Last month, Qatar stated that it would provide 70 tons of food to the Lebanese Armed Forces a month, and also called on all parties in Lebanon to form a new government “to achieve stability.”
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