Report: Speaker Warns 'Lebanon on Brink of Abyss'

Lebanon faces tremendous economic challenges in light of “conditional” international aid pledging economic and humanitarian assistance for the Mediterranean country which presses for a rapid formation of a new Cabinet now that Eid al-Fitr holiday is over.

Sources of Speaker Nabih Berri quoted him as saying that “forming a new government has become an imminent necessity. Lebanon is on the verge of the abyss and the economy threatens great dangers that the country may not be able to bear,” al-Joumhouria daily said on Monday.

It added that ambassadors of the donor countries have reportedly informed the Lebanese state that decisions of the Cedar Conference are subject to deadlines and that Lebanon must form a balanced government in order for the conference’s pledged assistance to start taking effect in the coming months.

The World Bank has put several reports on the seriousness of the economic situation in Lebanon as it still awaits for reforms to start providing Lebanon with donations and loans, it added.

Prime Minister-designate Saad Hariri was tasked with forming a new government, but his mission seems to be difficult in light of wrangling between political parties over ministerial portfolios and political bickering over key issues in the country.