Lebanon gets new government amid deepening crisis
Over a year after the previous administration quit a new government has been announced in Lebanon. Lebanon’s richest man, Najib Mikati, became prime minister and the rest of the cabinet was named as well. The appointments end months of political standstill in Lebanon. After the resignation of the previous prime minister following the Beirut port explosion on August 4, 2020, Lebanon has not had a functioning government.
The value of the currency collapsed, electricity, fuel and medications have been in short supply, and two years of protests for wholesale political reforms have unsettled the country. The new cabinet is expected to comprise of technocrats and is expected to pave the way for talks with the International Monetary Fund for a rescue package for the country. Three quarters of the population in Lebanon are living below the poverty line after the Lebanese currency lost 90% of its value in the last few months alone.