Economics

On Oct. 29, Prime Minister Saad Hariri submitted his resignation and that of the government, a move that has been hailed as an important victory for the protestors who have taken to the streets across the country for nearly three weeks now. Heralded as al-thawra, or revolution in Arabic, Lebanon is witnessing the rise of an inclusive, decentralized, and grassroots movement that transcends geography, sect, and traditional loyalties to political dynasties and parties.

Iranian mediation might bring the two big political blocs to an agreement on a new government, but the protest movement demands only new, clean faces and won’t readily accept another cabinet drawn from discredited political blocs.

Now is a time to stand with the people of Lebanon, and to maintain support for the country’s constitutional institutions.

Today, on the streets of Iraq, Lebanon, Egypt, Algeria, Tunisia, Morocco, and other countries, we hear the demands of the youth, asking for justice, governance, dignity, and jobs. In contrast to these demands, we see governments unwilling or unable to move towards systems of governance that would ensure transparency, accountability, and fair competition for all. Corruption can only be vanquished if transparency, a rigorous justice system, and credible redress mechanisms are put in place. The World Bank can and must re-engage on that path.

Only one leader has the moral standing and mass appeal to be able to move Iraq out of the deadly stalemate in which it now finds itself and which may degenerate into more violence and chaos if the status quo is not upended: Grand Ayatollah Ali al-Sistani.

It remains to be seen how resilient the protest movement is and how long it can remain mobilized for, especially if political leaders refuse to change their stance.

The FII’s public relations bash is important in that it shows the world that the leadership of the kingdom has an ambitious and real vision to move the country forward.

While there is probably zero chance Prime Minister Khan will step down, efforts will persist in trying to delegitimize those in power because this is what Pakistan’s opposition parties seem best programmed to do.

As protestors take to the streets across the country, Lebanon appears to be heading towards an economic meltdown with severe consequences for Lebanese citizens of all walks of life. We are concerned that failure to tackle current problems immediately and comprehensively could result in spiraling unemployment, uncontrollable inflation, more social unrest, civil strife and a severe deterioration in public health services and other basic resources.

Lebanon’s current uprising, larger than the Cedar Revolution and rooted in long-held socio-economic grievances, has united protestors across the country in calls for fundamental political change. And this time, Shiites have joined the struggle. This is not a good outcome for Hezbollah — nothing threatens it more than discord within the Shi’a community — and it now finds itself in uncharted territory.

If the crowds continue to take to the streets, Prime Minister Saad Hariri’s resignation seems inevitable, but what comes next is a big question mark.

For all of Prime Minister Imran Khan’s reputational gains abroad, it is Pakistan’s economy that will determine his political future.

Something had to give. Decades of corruption and criminal mismanagement by Lebanon’s ruling elites — the same clique who have governed the country since its independence in 1943 — have finally led to an economic implosion and a social explosion.

Putin’s visit to Saudi Arabia and the UAE takes place as the U.S. position in the Middle East collapses in the face of a series of misjudgments and “own-goals” by the Trump administration.

“We reached a level of injustice we could no longer take. For every action, there is a reaction,” explained one civil society activist following the Oct. 1 outbreak of protests in Baghdad and central and southern Iraq.