by greekcitytimes.com —Greece’s Minister Foreign Affairs, Nikos Dendias met with his Lebanese counterpart Nassif Hitti, the President of Lebanon Michel Aounthe and the President of the Lebanese parliament Nabih Berri, in Beirut on Wednesday. Following their meeting, during their press conference Dendias declared that “Lebanese-Greek relations are based upon solid foundations of friendship and mutual respect,’’ adding that the trilateral cooperation of the two countries with Cyprus “has produced positive results up to now.” Both Dendias and Hitti “expressed support for political solutions under the guidance of the UN, both in Libya and Syria,” with the Greek Minister praising Lebanon’s “impressive efforts in hosting and addressing the needs of the refugees.” Dendias said he had the opportunity to discuss with his colleague this Monday’s decision at the EU’s Foreign Affairs Council on a new operation aimed at ensuring the implementation of the arms embargo in Libya, then reiterated Greece’s stance on a peaceful resolution there.

by NAJIA HOUSSAR — arabnews.com —BEIRUT: Authorities are battling to prevent “a social explosion” among Palestinian refugees crammed into camps in Lebanon, a top official has revealed. Fathi Abu Al-Ardat, secretary of Palestine Liberation Organization (PLO) factions in Lebanon, told Arab News that urgent measures were being put in place to try and stop the “crisis” situation getting out of control. “Conditions in Palestinian refugee camps in Lebanon are very difficult due to the economic crisis facing the country, and we are trying to delay a social explosion in the camps and working on stopgap solutions,” he said.

And Dr. Hassan Mneimneh, the head of the Lebanese-Palestinian Dialogue Committee (LPDC), said: “More Palestinian refugees from the camps in Lebanon are immigrating. Embassies are receiving immigration requests, and Canada is inundated with a wave of immigration because its embassy has opened doors to applications.” According to a population census conducted in 2017 by the Central Administration of Statistics in Lebanon, in coordination with the Palestinian Central Bureau of Statistics (PCBS), there are 174,422 Palestinian refugees in Lebanon spread across 12 camps and nearby compounds. Mneimneh insisted the figure was accurate despite the UN Relief and Works Agency (UNRWA) estimating there to be 459,292 refugees in the country. He said: “The census we had conducted refers to the current reality in Lebanon.” He added that he feared “increased pressure on European donor countries over UNRWA in the coming days after the unilateral implementation of the ‘Deal of the Century’ (the US peace plan for the Middle East) by Israel. “Israel’s goal is to undermine UNRWA’s mission as a prelude to ending the Palestinian cause and, thus, preventing the return of Palestinians.”

BEIRUT (AP) – Bassem Mroue— If the government decides to refinance Lebanon’s massive debt, it should be orderly and include negotiations with debt holders as foreign funds are ready for such discussions, the head of Lebanon’s banking association said Wednesday. Lebanon is going through its worst financial and economic crisis since the end of the 1975-90 civil war after decades of corruption and mismanagement by the ruling elite. Nationwide protests broke out in mid-October against the country’s rulers, after which banks closed for two weeks, triggering a run on the banks and worsening the crisis. Chairman of Association of Banks in Lebanon Salim Sfeir made his comments after meeting Prime Minister Hassan Diab, during which they discussed Eurobond debt due in 2020 worth $2.5 billion.

The first to mature are Eurobonds worth $1.2 billion on March 9, and Lebanese officials have been discussing whether to pay on time as they have always have or default. Sfeir’s comments came a day after Fitch Ratings said Lebanon’s financial situation points to a likely restructuring of the country’s debt and financial sector to preserve declining foreign currency reserves. Sfeir said in a statement after the meeting that if the government makes a decision on rescheduling the debt they should “negotiate with bond holders especially foreign funds who have expressed until now readiness to negotiate.” “Any decision regarding Eurobonds is a decision that should be taken by the government only in accordance to what it sees as the good of Lebanon,” he said, adding that the bank association’s aim is to preserve the money of depositors.

by reuters.com — Issam Abdallah, Alaa Kanaan – Sick of Lebanon’s political instability, Habib Rahhal had been mulling leaving since 2018 to seek a better future. But the final straw came in November when he was unable to get money out of the bank because of a national financial crisis. He stepped up his job search abroad and found one in Germany. The digital product designer left Beirut for Berlin this month, intending to build a new life and joining a growing wave of Lebanese driven abroad by the crisis. “Typically, if someone is leaving, you would be upset and try to persuade them not to. In Lebanon, it is the opposite… The first thing they say is ‘Congratulations!’,” Rahhal, 27, said as he packed his bag. “This is what makes Lebanese happy these days – leaving the country.”

Lebanon’s economic crisis is widely seen as the most acute since independence from France and worse than any it endured during the 1975-90 civil war. Long in the making, the crisis came to a head last year as flows of capital into the country slowed down and protests erupted against a ruling elite that has overseen decades of state corruption and bad governance. Banks have imposed tight limits on access to cash and transfers abroad, the Lebanese pound has slumped and firms have shed jobs and slashed wages. The economy shrank by 7% last year, according an estimate by the former economy minister. With no end in sight to the crisis, many people are considering where they might be able to go. Many Lebanese, including some of the most highly skilled, already have second passports, making it easier for them to leave.

by middleeasteye.net — An activist who became an icon after kicking a bodyguard of a Lebanese minister in the groin, has been told she will face trial in November. During demonstrations that erupted across Lebanon on 17 October last year, Malak Alawiye kicked the gun-wielding bodyguard of Education Minister Akram Chehayeb to prevent him from […]

by Naharnet — Lebanese-Saudi billionaire Bahaa Hariri, the eldest son of slain ex-PM Rafik Hariri, issued a rare statement Tuesday in which he denied playing behind-the-scenes roles in Lebanon’s troubled political life. “For a while now, Lebanese media outlets have been circulating news related to Sheikh Bahaeddine Hariri that have nothing to do with reality, […]

by arabnews.com – NAJIA HOUSSARI – BEIRUT: Meetings between Lebanese officials and a delegation from the International Monetary Fund began on Tuesday in an attempt to find a solution to the nation’s financial crisis. Lebanon asked the IMF six days ago for help to develop an economic rescue plan in light of a $1.2billion Eurobond debt that is due for repayment on March 9. It is the first of three looming debts due between now and June, worth $2.5bn in total, plus an additional $2bn in interest on a $30 billion debt portfolio.

The participants in the meetings will include Lebanese Prime Minister Hassan Diab, central bank Governor Riad Salameh and representatives of the Banking Control Commission of Lebanon. “Lebanon’s economic and financial crisis is being addressed to mitigate its repercussions,” President Michel Aoun told the UK’s Senior Defense Adviser for Middle Eastern Affairs, Lt. Gen. Sir John Lorimer. “The IMF will provide its technical expertise in setting up a plan. “The unstable situation in several Middle Eastern countries in general, and in Syria in particular, has negatively affected Lebanon.” Amal Movement MP Yassin Jaber said: “Lebanon will wait for what the IMF delegation has to say. It will advise Lebanon and will not impose anything. It will then be up to the 20-minister cabinet to decide whether or not to take the advice.” The economic uncertainty has caused chaos in the money markets, and anger at what many see as profiteering by the banks and money changers. They have hiked the exchange rate against the dollar to 2,500 Lebanese pounds, even though the official exchange rate remains at 1,507, and in defiance of an agreement to limit the rate to 2,000 pounds. “The banks’ practices are a form of systematic fraud. They are confiscating the depositors’ money after having (imposed) high interest rates and reaped huge profits,” said MP Mohammad Kabbara.

by reuters –— BEIRUT: Lebanon’s Prime Minister Hassan Diab, who is getting the cold shoulder from Gulf Arab states, yesterday met Iran’s parliament speaker, the first senior foreign official to visit since Diab’s government took office. The heavily armed Hezbollah, an ally of Iran, is a main backer of Diab’s cabinet, which took office last month after efforts failed to strike a deal with Saad Al-Hariri, a traditional Western ally. Gulf Arab states had long channeled funds into Lebanon. But now, alarmed by the rising influence of Hezbollah, Lebanon’s rich neighbors appear loathe to help it out of an unprecedented economic and financial crisis. The crisis came to a head last year as slowing capital inflows led to a liquidity crunch and protests erupted against the ruling elite. Banks are curbing access to cash, the Lebanese pound has slumped, inflation has spiked and firms are shedding jobs. Foreign donors say they will only help once Lebanon enacts long-delayed reforms. Analysts say Hezbollah’s role in forming Lebanon’s new cabinet could make it harder to get aid from Western and Gulf states that are worried about Tehran’s clout in the region. Diab has said his first trip abroad would be to the Arab region, particularly the Gulf monarchies. But none of them have officially commented on the government nor extended public invitations to Diab. An Arab diplomat in the Gulf said only Qatar had invited Diab to visit so far. “No other government in the Gulf will invite him,” the diplomat said. Qatar did not immediately respond to a request for comment on whether it had sent an invitation.

by dailystar.com.lb — BEIRUT: An Israeli online newspaper reported Monday that a Lebanese man, who worked for the Israeli Mossad, fears deportation to Lebanon, claiming that Israel refuses to help him. The Times of Israel says that Benjamin Philip-not his real name- worked for the Mossad since 2011, during which time he helped gather information on Lebanon’s Hezbollah. While the paper does not give his current whereabouts, it says Philip is seeking asylum in Europe.“However, if this [asylum] fails […] it appears he will be sent back to Lebanon,” the report said. He said that if deported, he will face years of imprisonment, “a scenario that he, a gay man, cannot accept, knowing that such a sentence in a Lebanese prison would mean rape and torture,” the paper said. Philip added that his decision to go public with his story came “out of a sense of desperation, hoping — as a last-ditch effort — that by making his case public, he could pressure Israel and the Mossad to help him, as he says they promised to do.”

by middleeasteye.net — Lebanon’s state-owned carrier Middle East Airlines (MEA) revoked a decision to accept payment only in US dollars after a backlash on Sunday, Lebanese media said. The country is in the throes of an economic meltdown and a biting liquidity crunch that has seen the local currency depreciate and banks impose stringent controls on withdrawals and transfers abroad, AFP said. News of the decision, which was first reported late Saturday, drew dozens of people to MEA’s ticket office at Beirut airport where they tried to buy tickets in Lebanese pounds before the decision was due to take effect on Monday, Reuters reported. Former foreign minister Gebran Bassil declared the decision illegal. Writing on Twitter, parliamentarian Fouad Makhzoumi said the move put the Lebanese under effective “house arrest” and must be cancelled. President Michel Aoun said airfares should be priced in Lebanese pounds in line with the law.