No bailout for Lebanon unless leaders form credible govt, donor states warn

Western powers trying to rescue Lebanon’s teetering economy have given the country’s leaders an ultimatum: there will be no bailout except they form a credible government to overhaul a bankrupt state — and do it quickly.

According to Reuters, France, the United States and other donors who regularly came to Lebanon’s aid since the 1975-90 civil war are losing patience with its politicians, many of them familiar faces in charge during the country’s descent into economic crisis.

Huge protests erupted against the ruling elite last year as people blamed them for looking after vested interests while national debts mounted. The pandemic further strained resources and a huge port blast in August destroyed large areas of Beirut.