Yesterday Lebanon was due to repay $1.2 billion debt which the country failed to comply. Economy minister of Lebanon Raoul Nehme also said that the restructuring of the country’s foreign debt would take a 9-months timeframe if the good circumstances with the negotiators are given. 

Being as one of the world’s most heavily indebted country, the public debt of Libanon is estimated around 170 percent of annual gross domestic product and according to many analysts the only way forward is to negotiate with the International Monetary Fund (IMF). 

Social tensions are on the rise in Lebanon after ex-Prime Minister Saad Hariri was forced to resign in October 2019.

The Maronite Chruch is trying to secure the country’s future through holding the government and decision makers accountable for what they do in order to serve Lebanon’s future. 

The Maronite Church will not let Lebanon fall and will put up fierce resistance to those who tamper with its fate, said Patriarch Card Beshara al-Rahi in Sunday Mass homily. 

According to Asia News, “it is a must to remind that the free financial and economic system – of which the banking sector is a key part and in which the Lebanese stash their lifelong savings – is a pillar of the pillars of the Lebanese entity which was established by the venerable Patriarch Elias Hoayek 100 years ago,” al-Rahi said in his sermon.

In his speech, the Patriarch warned the Lebanese politicians not to jeopradize the future of the country and urged them to work for the people causing no harm to the economy. 

Photo: NicolasGaron (Wikimedia)