Int’l Backers Sound Alarm Over Lebanon’s Presidential Vacuum

Lebanon’s protracted political crisis is “paralyzing the state at all levels,” the International Support Group for Lebanon (ISG), a coalition of international actors including the UN, the Arab League, and several countries such as the US and France, said in a statement issued on Thursday. The country’s parliament is struggling to pass legislation, and there has been no president since Michel Aoun’s term ended on October 31. The caretaker government has limited powers, and Lebanon is currently facing an unprecedented economic crisis. The local currency has lost more than 98% of its value since 2019.

The ISG warned that a prolonged presidential vacuum would have significant consequences and called on Lebanese leaders to pass necessary laws quickly, unify exchange rates and adopt a financial program to restore confidence. A primary condition set by the International Monetary Fund to disburse $3 billion in aid is to unify the multiple exchange rates. The IMF has criticized the lack of progress in implementing reforms to the economy.

The ISG also expressed concern about the slow progress in Lebanon’s investigation into the deadly 2020 Beirut Port explosion. The investigation resumed after a yearlong suspension in January, but the court system was ordered not to process decisions made by the judge investigating the blast, including the issuing of indictments against top current and former officials.