Engulfed in political crisis, Lebanon Parliament Speaker calls own country a sinking ship

Lebanon Parliament Speaker Nabih Berri has called the country a ‘sinking ship’ as it is facing an economic and political crisis after the resignation of Saad Hariri as Prime Minister. A Lebanese daily quoted Berri saying the efforts to form a new government were completely frozen which aggravated the ongoing crisis.

Demands of economic reforms

Saad Hariri had resigned as Lebanon’s Prime Minister on October 29 after anti-government demonstrations peaked and protesters accused the government of corruption and mismanagement. Protesters have been demanding a government formed of technocrats to help bring important economic reforms in the country. However, the idea of forming a government without key political leaders, but only technocrats was not acceptable to the dispensation in power. Berri hoped that Hariri would agree to form the government with a new cabinet.

Read: Lebanon: Man Killed Amidst New Wave Of Protests After President's Interview

Huge public debt ratio

Earlier, Lebanon's Foreign Minister Gebran Bassil had confirmed that Safadi agreed on assuming the role of Prime Minister. The anti-government protests have now forced former Lebanese finance minister Mohammad Safadi to withdraw his nomination for the Prime Minister’s post. Lebanon is currently under a severe economic crisis which catapulted the country into a political crisis following nationwide protests triggered by new proposed taxes. The country’s gross debt, at 85.4 billion dollars, had increased by 0.7 per cent from last year, one of the biggest public debt ratios in the world. The banks have announced a weekly cap of $1,000 on cash withdrawals and restricted transfers abroad.

Read: Lebanon: Students Join Anti-govt. Protests, Refuse To Attend Classes

Protests led to a death

On November 13, a man was killed by soldiers during the new wave demonstrations, which was also the first reported death due to violent clashes. The man, identified as a local official of Walid Jumblatt-led Progressive Socialist Party, was shot after a squabble with Lebanese soldiers in Khaldeh, south of Beirut. Jumblatt assured the angry mob, protesting the death, of a thorough investigation.

Read: Lebanon's Former Finance Minister Mohammad Safadi Withdraws His Nomination For PM

Read: Lebanon: Reports Of Mohammad Safadi Nomination As PM Lead To Protests

(With Inputs from Agencies)