Lebanese parliament fails to elect president for the 11th time

Lebanese parliament failed in an 11th attempt to elect a new president. (File/AFP)
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Updated 19 January 2023
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Lebanese parliament fails to elect president for the 11th time

BEIRUT: Lebanon’s parliament failed to elect a new president for the 11th time on Thursday, prolonging an institutional vacuum amid one of the worst economic crises facing the country.

MP Michel Moawad received the most votes with 34, but 37 lawmakers returned blank ballots, according to Lebanon’s news agency.

Issam Khalife received seven votes, while Ziad Baroud gained just two, and Edward Honein had one.

A caretaker government took over when former president Michel Aoun stepped down at the end of October, 2022, stalling a host of economic reforms aimed at stopping wasteful spending and combatting rampant corruption.
Lebanese authorities in April, 2022, reached a tentative agreement with the International Monetary Fund for a recovery plan conditional on a host of economic reforms and anti-corruption measures.

However, the international organization has been critical of Lebanon’s sluggish efforts to meet these demands.

Meanwhile, the Lebanese pound on Thursday hit a new record low of 50,000 pounds per US dollar, currency exchange dealers told Reuters, marking a loss in value of more than 95 percent since the country’s financial system imploded in 2019.
The pound was pegged to the dollar at a rate of 1,507 in 1993, a peg that held until 2019, when decades of profligate spending, mismanagement and corruption triggered a financial crisis.

Lebanon’s cash-strapped banks continue to impose strict limits on withdrawals of foreign currency since October 2019, tying up the savings of millions of people.

As the economy continues to tank without any reforms, some depositors have resorted to storming bank branches and take their trapped savings by force.

(With agencies)


Iraqi lawmakers to elect president Tuesday, PM appointment next

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Iraqi lawmakers to elect president Tuesday, PM appointment next

BAGHDAD: Iraq’s parliament will meet on Tuesday to elect the country’s new president, who will then appoint a prime minister expected to be Nouri Al-Maliki after he was endorsed by the largest Shiite bloc.
By convention, a Shiite Muslim holds the post of prime minister, the parliament speaker is Sunni and the largely ceremonial presidency goes to a Kurd.
Parliamentary speaker Haibat Al-Halbussi announced on Sunday that the new parliament will convene on Tuesday to elect a president, according to the official INA press agency.
The president will then have 15 days to appoint a prime minister, who is usually nominated by the largest Shiite bloc formed through post-election alliances.
On Saturday, the Coordination Framework alliance — whose Shiiite factions have varying links to Iran — endorsed former prime minister and powerbroker Al-Maliki as the country’s next premier.
The alliance, to which Al-Maliki belongs, spoke of his “political and administrative experience and his record in running the state.”
Kurdish parties have yet to agree on a presidential candidate, who must be endorsed by other blocs and win a two-thirds majority in parliament.
The presidency is usually held by the Patriotic Union of Kurdistan (PUK). This year, the rival Kurdistan Democratic Party (KDP) named its own candidate: Foreign Minister Fuad Hussein.
Although Maliki’s endorsement effectively guarantees him the post, forming a new government remains a daunting challenge that could drag on for months and still fail.
The designated premier has one month to form a government and present it to parliament for a vote of confidence.
The 75-year-old Maliki, a shrewd politician, is set to return to power at a time of seismic changes in the Middle East, as Tehran’s regional influence wanes and tensions with Washington rise.
Government formation in Iraq must balance internal political dynamics and power-sharing among major parties, all under the continued influence of Iraq’s two main allies: Iran and the United States.
A close Iran ally, Al-Maliki will be expected to address Washington’s longstanding demand that Baghdad dismantle Tehran-backed factions, many of which are designated terrorist groups by the US.
Last month, Iraqi officials and diplomats told AFP that Washington demanded the eventual government exclude Iran-backed armed groups, even though most of them hold seats in parliament, and have seen their political and financial clout increase.
But Iraq is struggling with weak economic growth and cannot risk punitive measures by the US, which has already sanctioned several Iraqi entities, accusing them of helping Tehran evade sanctions.