The central bank has depleted its reserves dramatically by funding state bank interventions in defense of the lira.
For too long, Washington has been an accomplice of the rampant corruption in Lebanon, choosing to look the other way as it deals with officials known to be implicated in various corrupt schemes.
In recent weeks, a flurry of commentary from prominent voices and publications in Russia has seen a wave of criticism directed at Syria’s Assad regime. Accusations have been leveled against the regime of corruption, warlordism, and incompetence, as well as an obsession with achieving unrealistic military objectives at the expense of dwindling resources, reconstruction, and political and economic reforms.
In a series of videos posted on Facebook this week, Rami Makhlouf called out the upper echelons of Syria’s political establishment, of which he had been an integral part for over two decades. By making his feud public Makhlouf has created an unprecedented rift within loyalist ranks, transforming his dispute with Syria’s ruling elite from one that was tightly controlled and behind closed doors to an out in the open, nationwide row the likes of which haven’t been seen since Hafez al-Assad’s standoff with his brother Rifaat in 1984.
The fact that Makhlouf chose to go public heightens the stakes at play at the top of the regime and within the Alawite clan, arguably more than ever.
It’s difficult to overstate the importance of the Canal to the international shipping trade, but it’s importance to Egypt economy is even greater still.
It is not yet clear who will emerge as the winners and the losers from this latest crisis in a country that has experienced so many.
Rather than seeing the spreading virus as a common enemy, the Taliban seem to be viewing the health crisis as opening new military opportunities.
In a country already beset by economic and financial crises, COVID-19-related lockdown measures, without accompanying government assistance, are increasingly pushing impoverished residents to the brink. Lockdown measures will gradually start to lift this week. But the lockdown only accelerated the inevitable economic freefall and lifting the measures will not solve the country’s economic woes. “There is a predicament coming that is much bigger than corona … the economy is the bigger crisis,” a political activist in Dahiyeh says.
Climbing unemployment is a major specter for Egypt.
For LGBTI+ individuals in Tunisia, the internet and social media have played a critical role in the development of a community and activist network. Simultaneously, however, these technologies have been used by legal authorities to suppress and harass the queer community.
President Vladimir Putin’s plans to change Russia’s Constitution and stay in power beyond 2024 have been hampered by COVID-19 and the oil price crash.
The amendments have been designed to provide relief on both the individual and corporate levels.
Lebanese citizens are growing increasingly frustrated with a lack of concrete results from Diab’s self-styled “government of independent experts.”
The April 12 OPEC+ deal to cut oil production that ended the disastrous five-week Saudi Arabia-Russia price war is a short-term fix for the global industry, but will not resolve the larger problem of over-production. The price war heightened animosity between Riyadh and Moscow and calls into question whether the OPEC+ partnership will ever be the same again.