Lebanon’s lawmakers designate incumbent Prime Minister Najib Mikati to form a new government. Mikati secured 54 votes during parliamentary consultations, giving him a clear edge. Lebanon defaulted on its debt in 2020, the local currency has lost around 90 percent of its value on the black market. Lebanon’s lawmakers designated incumbent Prime Minister Najib … Read more
The cabinet of bankrupt Lebanon passed a financial recovery plan needed to gain international aid in its final session on Friday, but its implementation would be dependent on the turbulent next parliament. The meeting took place five days after Lebanon held its first election since an economic crisis, widely blamed on the ruling elite’s corruption … Read more
At least six humans died, including a girl, and nearly 50 others had been rescued after an overloaded migrant boat capsized off north Lebanon at some point of a chase by using naval forces, Lebanese officials said. The boat carrying almost 60 human beings capsized on Saturday night time near the port metropolis of Tripoli, … Read more
BEIRUT: Lebanon is mired in an economic crisis branded by the World Bank as one of the worst in modern times, but officials are yet to strike an international bailout deal. The financial meltdown began in 2019, and Lebanon defaulted on its debt last year. Politicians have failed to enact significant reforms to rescue the Mediterranean … Read more
