Lebanon’s new PM pledges to stabilize economic meltdown
BEIRUT – Lebanon’s new Prime Minister Najib Mikati pledged Friday to gain control of one of the world’s worst economic meltdowns, saying lifting subsidies would be critical for the small country’s government formed after a year of political stalemate.
Holding back tears, Mikati, one of the richest men in the country, said he recognized the pain of Lebanese mothers who cannot feed their children or find aspirin to ease their ailments, as well as students whose parents can no longer afford to send them to school.
“The situation is difficult but not impossible to deal with if we cooperate,” Mikati told reporters at the presidential palace, where the new government lineup was announced.
Lebanon has been without a fully empowered government since the catastrophic Aug. 4, 2020, explosion at Beirut port, which forced the resignation of then-prime Minister Hassan Diab’s government. An economic meltdown unfolding since 2019 has been made worse by the deadlock among rival political groups – which bickered over distribution of power and roles in the new government.