Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
The Israeli Walla! website: We are running out of stockpiles, our forces are exhausted, and the lives of the captives are in danger. It is time for a ceasefire deal in Gaza.
Several wounded in an Israeli bombardment of a tent in al-Mawasi, south of Khan Younis in the Gaza Strip.
Israeli media: Three wounded, three killed in an ongoing operation in the Gaza Strip.
Al Mayadeen's correspondent in southern Lebanon: Israeli artillery shelling targets the outskirts of the town of Shebaa
Al-Qassam Brigades: The targeting took place at the intersection of 'Street 5' with the western line north of Khan Younis
Al-Qassam Brigades: A NIMR armored personnel carrier carrying an Israeli soldier was targeted with an Al-Yassin missile north of Khan Younis
Israeli media: At least two soldiers killed by anti-tank missile fired at Israeli army forces in the Gaza Strip
Local Syrian sources: Mortar shells fell on more than nine villages in the Sweida countryside
Local Syrian sources: Dozens of dead and wounded have arrived at Sweida hospitals as a result of ongoing clashes at several locations in the western Sweida countryside
Local sources: Civilians, including children and women, were injured in the al-Maqous neighborhood of Sweida, in Syria, as a result of ongoing clashes

Lebanon cabinet passes financial recovery plan on last session

  • By Al Mayadeen English
  • Source: Agencies
  • 20 May 2022 22:41
2 Min Read

The Lebanese government, during its last session as Lebanon's official government, ended its tenure by passing a financial recovery plan for the country ravaged by various crises.

  • x
  • Lebanon's President Michel Aoun heads a cabinet meeting at the presidential palace in Baabda, Lebanon January 24, 2022 (Reuters)
    Lebanon's President Michel Aoun heads a cabinet meeting at the presidential palace in Baabda, Lebanon, January 24, 2022 (Reuters)

The Lebanese cabinet, during its final session held Friday, passed a financial recovery plan needed to secure international aid whose implementation falls on the incoming Parliament.

The session came five days after Lebanon held its first election in light of simultaneous, consecutive crises that hit the country and brought public outrage due to the living conditions rendered intolerable and exacerbated by mounting international pressure on the country.

"Any delay in implementing the financial recovery plan will be very costly to Lebanese," Prime Minister Najib Mikati told a press conference following the cabinet meeting.

Beirut reached a deal with the International Monetary Fund in April, which includes the authorities enacting reforms, including a financial recovery plan, among money other things as the West tries to up the pressure on the country.

Related News

EU rallies allies as Trump tariff threats push trade tensions higher

Supreme Court clears fast-track deportations to random third countries

The plan passed by the cabinet includes restructuring and recapitalizing the banking system, in addition to providing "as much as possible" protection for small depositors.

The national currency has lost more than 95% of its value, and people are blocked from accessing their savings in banks, this, alongside the minimum wage unable to cover citizens' basic necessities throughout the month, and more than 80% of the population under the poverty line.

The outgoing cabinet will be able to continue functioning with limited caretaker powers until the next cabinet is formed.

"I call on elected lawmakers to expedite the formation of a new government," Mikati said. 

The United States urged Friday the authorities in Lebanon to move urgently and form a government at the soonest time possible as the country grapples with an economic crisis ranked among the world's worst in centuries after elections raised fears of a new deadlock in the country.

  • United States
  • Lebanese government
  • Beirut
  • International Monetary Fund
  • Najib Mikati
  • Lebanese elections
  • Lebanon

Most Read

Hezbollah SG reveals war details on Al Mayadeen for the first time

Hezbollah SG reveals war details on Al Mayadeen for the first time

  • Politics
  • 8 Jul 2025
Major ambush in Gaza kills 6 Israeli troops, injures dozens

Major ambush in Gaza kills 5 Israeli troops, injures 14

  • Politics
  • 8 Jul 2025
Israeli soldiers are seen in Beit Hanoun ahead of an operation by the al-Qassam Brigades, undated (Al-Qassam Brigades Military Media)

'Israel' on blast as media exposes report discrepancies in Gaza ambush

  • Palestine
  • 8 Jul 2025
Yemen Navy sinks ETERNITY C ship, shares footage of operation

Yemen Navy sinks ETERNITY C ship, shares footage of operation

  • Politics
  • 9 Jul 2025

Coverage

All
The Ummah's Martyrs

Read Next

All
The Freedom Flotilla ship Handala as it departs for Gaza, where it aims to break the maritime blockade at a port in Syracuse, Sicily in southern Italy on July 13, 2025. (AFP)
Palestine

Freedom Flotilla's Handala departs Sicily in bid to break Gaza siege

The container ship CMA CGM Laperouse, left, docks at the Georgia Ports Authority's Port of Savannah, Sept. 29, 2021, in Savannah, Ga (AP)
Politics

US shipbuilding woes deepen as tariffs, outdated policies backfire

Gaza war raises ethical questions for ex-Obama, Biden officials
Politics

Mercenary firm tied to Gaza war crimes hires Obama-Biden PR operatives

'Israel' targets children in Gaza collecting water
Palestine

'Israel' strikes Gaza kids fetching water, blames it on 'malfunction'

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS