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Lebanon economic crisis

Karim Souaid, the newly appointed Lebanon's Central Bank governor, speaks during a taking office ceremony at the Lebanese Central Bank building, in Beirut, Lebanon, April 4, 2025. (AP Photo/Hussein Malla)
April 4, 2025, 2:41 pm
Lebanon’s new central bank chief vows to combat terror financing
Karim Souaid says bank must counter money laundering, restructure banking system as he begins task of repairing economy battered by decades of corruption and war
By BASSEM MROUE
People inspect the damage at the site of overnight Israeli airstrikes that targeted the Rweiss neighborhood in Beirut's southern suburbs on November 9, 2024. (Ibrahim Amro/AFP)
November 14, 2024, 7:48 pm
Hezbollah’s war with Israel cost Lebanon at least $8 billion — World Bank
Report says losses concentrated in commerce, tourism, hospitality and agriculture, in addition to damage to physical structures; final costs expected to be far higher
By Agencies and ToI Staff
A statue of Iranian General Qassem Soleimani, former head of Iran's Quds force, stands in front of a branch of the Hezbollah-run Al-Qard al-Hassan Association, in Ghobeiry, Lebanon, January 20, 2021. (AP/Bilal Hussein)
October 21, 2024, 3:57 pm
Lebanon’s Al-Qard Al-Hassan: US-sanctioned Hezbollah cash source
The financial institution is the latest target of IDF airstrikes as Israel seeks to degrade the terror group’s ability to fund its war on the Jewish state
By Reuters and ToI Staff
Riad Salameh, Lebanon's Central Bank governor, smiles during a press conference in Beirut, on November 11, 2019. (AP Photo/Hussein Malla, File)
May 26, 2023, 7:38 am
Hezbollah chief calls on Lebanon’s central bank governor to resign amid legal woes
Statement marks first time powerful terror group has demanded Riad Salameh quit, following an arrest warrant from France over corruption charges
By Agencies
Illustrative: Tear gas is fired during a demonstration by retired Lebanese army and security forces veterans, demanding inflation-adjustments to their pensions, outside the government palace headquarters in the center of Beirut on March 22, 2023. (ANWAR AMRO/AFP)
March 23, 2023, 5:07 pm
IMF warns Lebanon at ‘very dangerous moment’ amid failure to pass crucial reforms
Fund’s delegation fears country faces ‘never-ending crisis,’ as Beirut struggles to approve changes to unlock $3 billion conditional loan to salvage freefalling economy
By Aya Iskandarani
In this file photo taken on July 22, 2020, the influential head of Lebanon's General Security apparatus Abbas Ibrahim speaks during an interview at his office in Beirut. (Anwar Amro/AFP)
March 4, 2023, 6:52 am
Lebanon paralysis grows as security chief bows out
‘The country is in a state of almost total disintegration,’ one analyst says
By Acil Tabbara
Lebanese Army Commander Gen. Joseph Aoun, right, in Ras Baalbek, northeast Lebanon, on August 23, 2017. (Lebanese Army Website via AP)
January 25, 2023, 6:38 pm
US reroutes $72 million in aid to Lebanon to pay wages for army, police
Move marks first time Washington has paid salaries of Lebanese security personnel as economic crisis causes crash in pay
By Kareem Chehayeb
Syrian children play soccer near their tented homes at a refugee camp in the town of Bar Elias, in the Bekaa Valley, Lebanon, July 7, 2022. (AP Photo/Bilal Hussein)
November 21, 2022, 8:16 pm
UN to provide $5.4 billion in food aid to crisis-hit Lebanon
Lebanese Prime Minister Najib Mikati says funds will be ‘shared equally’ by Lebanese citizens and the two million Syrian refugees living there
By AFP
Likud chairman Benjamin Netanyahu (L) speaks to his supporters after the release of exit poll results in Jerusalem, November 2, 2022. Hezbollah Secretary-General Hassan Nasrallah gives an address on official party al-Manar TV on June 8, 2021. (Oren Ziv/AP; Screen capture/ Al-Manar)
November 11, 2022, 10:01 pm
Hezbollah chief says doesn’t believe maritime deal at risk after Netanyahu win
Nasrallah says ‘strength that Lebanon possesses’ will serve as guarantee for agreement; adds that his terror group wants next Lebanese president to ‘reassure the resistance’
By ToI Staff
Lebanon's outgoing President Michel Aoun delivers a speech to mark the end of his mandate, outside the presidential palace in Baabda, east of Beirut, on October 30, 2022. (ANWAR AMRO/AFP)
October 30, 2022, 5:20 pm
Lebanese President Aoun set to exit without successor, leaving country in turmoil
In final act, Hezbollah-aligned leader formalizes resignation of caretaker government, complicating chaos; thousands gather to bid farewell to former army chief as he leaves palace
By Layal Abou Rahal and Aya Iskandarani
A Palestinian worker from UNRWA (United Nations Relief and works Agency) sprays a van, carrying bread, as a precaution against the coronavirus, at the closed entrance of Jalil, or Galilee Palestinian refugee camp, in Baalbek, Lebanon, April 24, 2020. (AP Photo/Hussein Malla)
October 26, 2022, 4:41 pm
UN: Palestinian refugees in Lebanon sinking deeper into poverty amid economic crisis
UNRWA official warns of ‘dramatic humanitarian crisis,’ says two-thirds of families have reduced the number of meals they eat a day
By AFP
Christian nationalist Free Patriotic Movement head Gebran Bassil, who is allied with the Hezbollah terror group, gestures as he speaks during an interview with The Associated Press, in Beirut, Lebanon, October 17, 2022. (AP/Hussein Malla)
October 17, 2022, 11:51 pm
Hezbollah-linked Lebanese MP says Ukraine War sped up maritime border talks
US-sanctioned Gebran Bassil, who is also president’s son-in-law, emphasizes deal with Israel ‘not a normalization process’ but predicts will brings much-needed stability to region
By Agencies
US Envoy for Energy Affairs Amos Hochstein, waves to journalists at Beirut Rafik Hariri international airport after he briefed them about his meetings with the Lebanese officials, in Beirut, Lebanon, Friday, Sept. 9, 2022. (AP Photo/Hussein Malla)
October 14, 2022, 5:04 am
Downplaying concessions, US envoy tells Israelis deal with Lebanon keeps them safer
Amos Hochstein dismisses Netanyahu’s criticisms as campaign rhetoric, says fact that two enemy countries managed to reach agreement on maritime border ‘enormously significant’
By Jacob Magid
Lebanese President Michel Aoun gives a speech on the maritime border agreement with Israel in the presidential palace, in Baabda, east of Beirut, Lebanon, October 13, 2022. (Dalati Nohra via AP)
October 13, 2022, 9:38 pm
Lebanon’s president announces official approval of maritime border deal with Israel
In televised address, Michel Aoun stresses that agreement includes ‘no normalization’ and ‘responds to Lebanese demands and maintains all our rights’
By Agencies and ToI Staff
Lebanese lawmakers cast their vote to elect a president at the parliament building in downtown Beirut, Lebanon, September 29, 2022. (AP Photo/Bilal Hussein)
October 13, 2022, 4:20 pm
Lebanese lawmakers fail to elect president for second time
Only 71 members of parliament attend, fewer than needed for quorum; next vote called for October 20 as country grapples with major economic crisis
By AFP
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