Page 5 - DMEA Week 32

DMEA COMMENTARY DMEA

Meanwhile, the Lebanese pound has shed the actions of the “long-ruling class.”
more than 80% of its value since October 2019, His government, he said, had “gone to great
while banking restrictions have led to for- lengths to lay out a roadmap to save the country.”
eign currency shortages, driving up the cost of But corruption in Lebanon is “bigger than the
imports. state itself,” he said, and “a very thick and thorny
The previous Western-backed government wall separates us from change; a wall fortified by
led by PM Saad Hariri also raised taxes on a class that is resorting to all dirty methods in
tobacco and gasoline, while introducing a con- order to resist and preserve its gains.”
troversial levy on the WhatsApp messaging app, “They knew that we pose a threat to them and
in an effort to raise funds. It was forced to roll that the success of this government means a real
back these measures after they triggered another change in this long-ruling class whose corrup-
wave of mass protests. But this was not enough to tion has asphyxiated the country,” he went on.
quell the unrest and Hariri tendered his resigna- “Today we follow the will of the people in their
tion in late October. demand to hold accountable those responsible
Faced with an economy in tailspin, Diab for the disaster that has been hiding for seven
announced less than two months after taking years, and their desire for real change.”
office that Lebanon would default on its debts. Parliament will now have to decide on a new
Lockdowns imposed to contain the coro- prime minister, which will be no easy process
navirus initially took protesters off the streets. given the country’s deeply rooted sectarian
But Lebanon’s financial situation continued to politics. Lebanon’s three main political offices –
worsen and many businesses were forced to lay president, speaker of parliament and PM – are
off staff or put them on furlough without pay, divided among the country’s three biggest com-
aggravating unemployment. Prices continued munities, Maronite Christian, Shia Muslim and
to rise, leaving many families unable to afford Sunni Muslim. Meanwhile, the 128 seats in its
basic necessities. Meanwhile, negotiations with parliament are split equally between Christians
the International Monetary Fund (IMF) on a and Muslims.
bailout became deadlocked. The process is also likely to be influenced by
Soon enough, protests returned with a external actors such as Iran, which backs the
vengeance. powerful Shia Hezbollah movement in Lebanon,
and Saudi Arabia, which has supported Sunni
What next? political groups in the country.
Announcing his resignation on national televi- Diab’s successor will face the extreme chal-
sion, Diab sought to direct blame for Lebanon’s lenge of bringing Lebanon’s economy back from
woes towards years of rampant corruption and the brink. ™

Week 32 13•August•2020 www. NEWSBASE .com P5