Lebanese security forces clash with protesters

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Lebanese security forces have fired tear gas and water cannon at protesters trying to block Members of Parliament, MPs and Ministers from reaching parliament  for a vote of confidence in Prime Minister Hassan Diab’s new cabinet.

Hundreds of protesters who were seeking to prevent the vote, gathered early in the morning in central Beirut where security forces blocked off all the roads leading to the barricaded parliament building.

Protesters threw rocks at security forces deployed at several locations around the city centre.

Financial Crisis
One of the world’s most heavily indebted states, Lebanon is facing a crisis rooted in decades of state waste and corruption.

MPs are set to vote on a government policy statement that says “painful steps” are needed to address a financial crisis which has led the currency to lose a third of its value and banks to severely curb access to deposits.

The crisis came to a head last year as slowing flows of capital from abroad led to a hard currency crisis and protests erupted against the ruling elite.

Parliament Speaker, Nabih Berri  said Lebanon should seek IMF technical help and take a decision to pay maturing foreign debt next month based on IMF advice.

“Lebanon could not surrender itself to the IMF because the nation could not bear its conditions,” he said.

Berri said Lebanon must take advantage of the time remaining before its next debt maturity on March 9 to send a message abroad, “specifically to the Americans” that the country needs IMF technical help through a rescue plan.

“There is still room for Lebanon during the coming two weeks and before the end of the current month to benefit from this measure,” Berri said.

Based on this, “Lebanon will be able to form its position on the maturing Eurobonds – whether to pay its commitments or not to pay them – based on what the IMF advises.”

Berri also said the Lebanese people would be unable to bear IMF conditions, saying Lebanon was not Greece or Argentina that have  experienced their own financial crises.

 

Sekinat Fagbemi

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