FinPol Digest

 The Lebanese parliament yesterday failed, for the fifth time, to elect a new president for the country. Independent lawmaker, Michel Moawad, was the frontrunner with 44 votes in yesterday's session, however, he fell short of the two-thirds majority or 86 votes needed to win. Parliament Speaker Nabih Berri has set next Thursday as the date for a new session to elect a president. The parliament's failure to elect a president may further complicate the situation in a country mired in a stifling economic crisis, and where constitutional deadlines are rarely respected. "Each party is accusing the other of obstruction," said MP Elias Bou Saab, deputy parliament speaker of the Free Patriotic Movement bloc, in an interview with AFP. "The crisis is that each party wants its own candidate. They should think in a different way and reach an understanding regarding a name that is accepted by at least two-thirds of the council," he added. Aoun, himself, was elected afte...

Here’s something good that I want to share with what I read today. I find it interesting that Lebanon's passive consent to Hezbollah's support in the Syrian common conflict on Iran's side has distanced large numbers of its conventional accomplices, including the US, Europe, and the Gulf Cooperation Council nations. Neglecting to satisfy its monetary commitments and its disobedience of global organizations have left it with not many companions.  For me, This emergency is the greatest danger to Lebanon's soundness since in any event the 1975-1990 common conflict or, as per the World Bank, since the mid-nineteenth century, when it's anything but a prior common conflict.  With no different choices left, Lebanon should treat appropriately the admonishments and alerts of the EU international strategy boss and the World Bank, who are not typically given to unwarranted embellishments.

 A conundrum that faces many nations suffering from dysfunctional democracies is the disbursement of international aid. Most of these economies suffer under corrupt governments, civil war, and therefore a resulting lack of systems in place. To solve this cycle of public suffering, the United Nations along with the European Commission and the World Bank has now announced an innovative model for disbursing aid to one such country in need- Lebanon. The consortium of nations and the UN together has devised the Reform, Recovery, and Reconstruction Framework that will extend for 18 months starting from December. The framework is essentially going to address the Beirut explosion mayhem that leads to loss of life and property, all due to government negligence. The explosion saw more than 6000 displaced and injured and 200 lives lost.   Being called the 3RF, it is meant to create a pool to ensure medium-term recovery and construction efforts that lead Lebanon into a sustainable st...