by dw.com -- Rob Mudge -- Lebanon is in the midst of a currency crisis and has devalued its local currency. But implementing a new exchange rate policy is set to have catastrophic consequences on people's daily lives. A man holding up Lebanese lira and US dollar bills Amid Lebanon's financial and economic crisis, the US dollar is king but it's getting costlier to get hold of it Lina Boubess, 62, hasn't missed any protests since Lebanon's economic and financial crisis erupted in October 2019. Although she gained the title of "Mother of the Revolution" because of her constant participation in every anti-government protest in Beirut, Boubess told DW that her life changed dramatically over the last three years, and she became a full-time activist to support the next generation. "Before the economic crisis, I could afford to travel abroad every month. I used to have a luxurious life. But now, I cannot afford it anymore. I have to think about how to cope here. I don't have a credit card. Banks stole our money," she said. Although Boubess can still afford to buy food, she doesn't know what will happen later. "All my life changed. That's why I am on the street," she said.

Boubess is worried about the announcement of the government's plan to slash the official exchange rate from 1,507.5 Lebanese lira per US dollar to 15,000 Lebanese lira — 10 times more than the current official exchange rate. "This will be terrible for people. Everything is going to cost more. I wonder where the people are. This will be high for me and everybody," she said. protesters scaling the gates of Lebanon's parliament building The protests in Lebanon show no sign of abating as the country's economic crisis takes its toll Why the new exchange rate is essential On September 28, Finance Minister Youssef Khalil announced that the Lebanese government was planning to gradually increase the official exchange rate starting from November 1. The current rate of 1,507.5 Lebanese lira has been pegged to the US dollar for 25 years. Khalil's announcement to adjust the official exchange rate is relevant for several reasons.

by middleeastmonitor.com -- Reema Abu Khalil -- Lebanese women are still excluded from the main decision-making positions in Lebanon, such as the presidency of the Republic, premiership and parliament speaker, despite their prominent presence in the human rights and diplomatic fields, and in international forums. There has also been improvement in female representation in the Lebanese Parliament in the last elections that took place in May 2022, with 8 women winning seats, in the best representation of women nominated and reaching the Parliament in the history of the country. With the end of the mandate of Lebanese President, Michel Aoun, approaching on 31st October, the Parliament began its sessions to choose his successor, but the list of candidates is still unclear. However, it was notable that two women from outside the traditional six main political forces announced their candidacy for the presidency, namely Tracy Chamoun, the former Lebanese ambassador to Jordan, daughter of the late leader Dany Chamoun, and grand-daughter of the second President of the Republic in Lebanon after independence, Camille Chamoun. The second candidate is May Rihani, the Lebanese writer and expert in global development in the field of girls' education and women's rights.

With the Lebanese Parliament holding the first session to elect a new president of the republic on 29th September, the names of Chamoun and Rihani were completely absent, limiting the competition in the session to blank ballot papers, MP Michel Moawad, Salim Eddeh, and Lebanon. The only female name mentioned in the session was that of the young Iranian woman, Mahsa Amini, whose death sparked protests in Iran, in order to document a position and send a message to the Hezbollah MPs and the Iranian regime. While presidential candidate, Tracy Chamoun, declined to make a statement, presidential candidate May Rihani told Al-Araby Al-Jadeed that a women's candidacy for the presidency in itself is support for the women's leadership role and acknowledgement. She added that it is time for women to reach leadership roles, noting that she had met with a large number of MPs who belong to large blocs and others who are independent, a number of whom are men, and they are ready to back the candidacy of a qualified woman with experience and specifications suitable for the position of the Presidency of the Republic. She also stressed that there is political support for her candidacy from certain parliamentary blocs and independent or reformists, noting "There is a chance for me to reach the presidency."

by whitehouse.gov -- President Biden transcript: "Today, I am pleased to announce a historic breakthrough in the Middle East.  After months of mediation by the United States, the Governments of Israel and Lebanon have agreed to formally end their maritime boundary dispute and establish a permanent maritime boundary between them.  I have just spoken with the Prime Minister of Israel, Yair Lapid, and the President of Lebanon, Michel Aoun, who confirmed the readiness of both governments to move forward with this agreement.  I want to also thank President Emmanuel Macron of France and his government for their support in these negotiations.  

Energy—particularly in the Eastern Mediterranean—should serve as the tool for cooperation, stability, security, and prosperity, not for conflict.  The agreement announced by both governments today will provide for the development of energy fields for the benefit of both countries, setting the stage for a more stable and prosperous region, and harnessing vital new energy resources for the world.  It is now critical that all parties uphold their commitments and work towards implementation.  

This agreement also protects Israel’s security and economic interests critical to promoting its regional integration.  It provides Lebanon the space to begin its own exploitation of energy resources.  And it promotes the interests of the United States and the American people in a more stable, prosperous, and integrated Middle East region, with reduced risks of new conflicts. "

By voanews.com -- President Joe Biden on Tuesday hailed a U.S.-brokered maritime border agreement between Israel and Lebanon as a “historic breakthrough in the Middle East” that allows cash-strapped Lebanon to explore potential gas deposits in the Mediterranean Sea, while giving Israel more security and stability in the volatile region. “The agreement announced by both governments today will provide for the development of energy fields for the benefit of both countries, setting the stage for a more stable and prosperous region, and harnessing vital new energy resources for the world,” Biden said in a statement. “It is now critical that all parties uphold their commitments and work towards implementation.” The two neighbors have been formally at war for decades and have no official communication, so the deal was brokered over several months by American officials.

Israel discovered the massive deposits off its coast in 2010, but Lebanon raised concerns that the deposits may stretch into Lebanese waters. And Lebanon’s Iran-backed Hezbollah Party has threatened to protect what it claims is its territory. Speaking to journalists, a senior Biden administration official described the agreement as balanced. “This agreement is not a win-lose agreement,” said the official, who asked not to be named, as is common practice when the White House briefs reporters. “The parties are not getting more than the other because they get different things. The win for Israel is around security, stability and economic gain. The win for Lebanon is economic prosperity, economic development, foreign direct investment and hope for an economic recovery.”

Asharq Al-Awsat  -- Lebanon and Israel have reached a historic agreement demarcating a disputed maritime border between them following years of US-mediated negotiations, Israeli Prime Minister Yair Lapid said on Tuesday. While limited in scope, a deal would mark a significant compromise between states with a history of war and hostility, opening the way for offshore energy exploration and easing a source of recent tensions. "This is a historic achievement that will strengthen Israel's security, inject billions into Israel's economy, and ensure the stability of our northern border,” Lapid said in a statement. In Lebanon, President Michel Aoun said the terms of the final US proposal were satisfactory and he hoped the deal would be announced as soon as possible.

The agreement is meant to resolve a territorial dispute in the eastern Mediterranean Sea in an area where Lebanon aims to explore for natural gas. Israel is already producing natural gas at fields nearby. It sets a border between Lebanese and Israeli waters for the first time and also establishes a mechanism for both countries to get royalties from an offshore gas field that straddles the boundary. The deal does not touch on their shared land border. Lebanese negotiator Elias Bou Saab told Reuters that the latest draft "takes into consideration all of Lebanon's requirements and we believe that the other side should feel the same." It was also endorsed by the Iran-backed Lebanese group Hezbollah, which until recently has threatened to attack Israeli gas facilities, according to two officials. A senior Lebanese government official and an official close to Hezbollah said the group had agreed to the terms of the deal and considered negotiations "over." Hezbollah has yet to formally comment. While Israel has moved ahead with production and export of natural gas, Lebanon's efforts have been hamstrung by political dysfunction.