The Lebanese government on Thursday approved a long-awaited plan to rescue the debt-saddled economy from its worst crisis in decades, following a fresh wave of angry streets protests.
The government unanimously approved the economic plan after minor amendments, the presidency said on Twitter following a cabinet meeting in the presidential palace in Baabda. Diab said that the"practical plan that includes an economic vision for the future of Lebanon" will put the country back on track.
International donors have said that such reforms are necessary for Lebanon to unlock financial assistance, including A$16 billion in grants and loans pledged during a 2018 conference in Paris.The army clashed again with protesters angered by soaring inflation and an unprecedented devaluation of the Lebanese pound which hit a record low beyond 4,000 to the dollar this week.
The demonstrations had largely petered out after a new cabinet was tasked earlier this year with implementing urgent reforms to unlock billions in international aid.But protesters have hit the streets again in recent days in defiance of the lockdown, railing against the slump in the pound and rocketing inflation.
More falafel shops!!!
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