اين اصبحت قوانين الإصلاح المالي واحتفال بمهرجان انتخابات البلديات المفلسة

Quick Overview

Lebanon's financial reform laws are progressing solely due to intense external pressure from international bodies and foreign powers, not internal initiative, while the ongoing municipal elections are a superficial and corrupt exercise for bankrupt municipalities, further highlighting the country's deep-seated political and financial dysfunction.

Key Points: Lebanon's financial collapse began in 2019, leading to the state's default on debts and the bankruptcy of the central bank and banking sector, resulting in the loss of "tens of billions of dollars" of depositors' money. Three key financial reform laws—banking secrecy, bank restructuring, and financial loss distribution—are being processed, with the banking secrecy law being the "fastest law passed since 1943" due to urgent external demands. The government's actions on financial reform stem from "pressure, even quasi-orders" from the IMF, the US, and France, rather than a clear internal vision for addressing the crisis. Lebanese banks, despite being bankrupt and imposing illegal capital controls, refuse to acknowledge their insolvency and claim they are being "crucified for errors they did not commit." Municipal elections are a constitutional formality for "bankrupt" municipalities, serving primarily to reinforce inherited tribal loyalties and political party influence rather than promoting development or public service. Traditional political parties exploit municipal elections for their own power struggles, forming alliances that defy logic and engaging in sectarian bargaining over positions. The "change" movement (Taggheereen) is criticized for lacking a coherent political project to confront the corrupt system, instead focusing on superficial appearances and failing to unite or address fundamental issues like stolen public funds.

Context: Lebanon faces a severe political and financial crisis that began in 2019, marked by the state's default on debts, the central bank's bankruptcy, and the collapse of the banking sector, leading to massive losses for depositors. The country also grapples with ongoing Israeli occupation and the government's lack of a clear strategy for dealing with Hezbollah's weapons, a matter the President intends to address through dialogue. Amidst this turmoil, new government and presidential terms have initiated discussions on reforms, primarily driven by international pressure from entities like the IMF, the United States, and France.