situation report

Lebanon: Prime Minister Issues Ultimatum to Governing Parties to Accept Reform Package

1 MIN READOct 18, 2019 | 16:09 GMT

What Happened: Lebanese Prime Minister Saad al-Hariri announced on Twitter on Oct. 18 that he has given the country's governing parties 72 hours to accept a reform package amid ongoing anti-austerity protests.

Why It Matters: If the Lebanese government cannot agree on a reform package, it increases the potential for increased political turmoil and paralysis, undermining confidence in the country's political stability and deepening its economic crisis.

Background: Lebanon's economy is suffering from years of mismanagement, a massive public debt burden and U.S. sanctions pressure. However, Beirut has been unable to present a viable austerity plan to unlock foreign aid and stabilize the country's fiscal situation.

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