The Latest Breaking News from Lebanon

French Envoy Criticizes Lebanon over 'Slow' Reforms Needed for IMF Loan

The French diplomat charged with coordinating international support for Lebanon, so it can receive International Monetary Fund aid, on Friday criticized the slow pace of reforms in the crisis-hit country. The IMF last April announced an agreement in principle with Beirut for $3 billion in aid spread over four years,…

Asharq Al-Awsat · Feb 4, 2023

Irish peacekeeper injured in Lebanon attack is discharged from Dublin hospital

Tanaiste Micheal Martin welcomed the “good news”, and said that a UN report into the fatal ambush is expected in the coming weeks.

The Independent UK · Feb 3, 2023

Two Years Later, No Justice for Slain Anti-Hezbollah Activist Lokman Slim

Two years after the murder of Lebanese intellectual and Hezbollah critic Lokman Slim, no indictment was issued by the Lebanese judiciary in a country, where impunity has become part of the public scene, as stated by Slim’s sister, Publisher Rasha Al-Amir. Lokman Slim was found dead in his car on…

Asharq Al-Awsat · Feb 3, 2023

Lebanon Devalues Official Exchange Rate by 90%

Lebanon devalued its official exchange rate for the first time in 25 years on Wednesday, weakening it by 90% but still leaving the local currency well below its market value. The pound has crashed since a financial meltdown in 2019 after decades of corruption, profligate spending and mismanagement by the…

Asharq Al-Awsat · Feb 1, 2023

Regional Power Plan for Lebanon Held up Over Syria Sanctions

Egypt is still seeking assurances that US sanctions will be waived to start exporting gas to Lebanon through Syria under a plan first announced in 2021 to help ease Lebanon's power crisis, a senior French official said on Tuesday. The plan also has yet to go to the World Bank…

Asharq Al-Awsat · Feb 1, 2023

Lebanon: Villagers Try to Stem Illegal Logging Scourge

Braving the bitter cold, Lebanese villagers have been patrolling a mountainside in the country's north, trying to protect trees from loggers who roll in under the cover of darkness. Near his village of Ainata, "nearly 150 centuries-old oak trees have been felled" in the past year, said Ghandi Rahme, pointing…

Asharq Al-Awsat · Feb 1, 2023

Lebanon to Devalue Currency by 90% On Feb. 1, C.Bank Chief Says

Lebanon will adopt a new official exchange rate of 15,000 pounds per US dollar on Feb. 1, central bank governor Riad Salameh said, marking a 90% devaluation from its current official rate that has remained unchanged for 25 years. The shift from the old rate of 1,507 to 15,000 is…

Asharq Al-Awsat · Jan 31, 2023

Cash Is King in Lebanon as Banks Atrophy

The money exchange shop in Lebanon's Bekaa Valley was buzzing with business. Cellphones pinged endlessly and employees shouted out various rates as customers flocked in carrying plastic bags of the crashing local currency to buy US dollars. "Welcome to the Wall Street of Lebanon," grinned the storefront's owner, a machine…

Asharq Al-Awsat · Jan 31, 2023

QatarEnergy Replaces Russian Company in Lebanon Gas Exploration

Lebanon, two international oil giants and state-owned oil and gas company Qatar Energy signed an agreement Sunday that the Qatari firm will join a consortium that will search for gas in the Mediterranean Sea off Lebanon’s coast. Qatar Energy is replacing a Russian company that withdrew from the Lebanese market…

Asharq Al-Awsat · Jan 30, 2023

Maronite Patriarch Says Judge Probing Beirut Port Blast Must Pursue Truth

Lebanon's Maronite Patriarch Beshara al-Rai called on Sunday for the judge struggling to investigate the Beirut port explosion to be able to pursue his work and get help from any outside authority to pinpoint those responsible for the devastating blast. Long-simmering tensions over the investigation have boiled over since Judge…

Asharq Al-Awsat · Jan 29, 2023