Get all your news in one place.
100’s of premium titles.
One app.
Start reading
Asharq Al-Awsat
Asharq Al-Awsat
World
Asharq Al-Awsat

Lebanon Needs to Step up on Reform, Says Saudi FM

Saudi Arabia's Minister of Foreign Affairs Prince Faisal bin Farhan bin Abdullah arrives for a meeting with the Foreign Ministers of the G7 Nations at the Munich Security Conference (MSC) in Munich, Germany, February 19, 2022. (Reuters)

Saudi Arabia's foreign minister said on Saturday Lebanon must offer stronger signals that it is serious about reform to secure support from the international community as it struggles with a financial crisis.

"Lebanon first needs to be actively saving itself ... We need a stronger signal from the Lebanese body politic that they are going to step up," Prince Faisal bin Farhan bin Abdullah said at the Munich Security Conference.

He said this included first stabilizing the economy and then addressing issues of corruption and mismanagement, as well as "regional interference and loss of state sovereignty".

Lebanon's ties to the Arab Gulf and particularly Saudi Arabia hit rock bottom last year over what the Saudi foreign minister said was the growing influence of Iran-allied Hezbollah in the country.

Kuwait last month presented to Beirut a list of Gulf terms for thawing relations after Saudi Arabia and other Gulf states expelled Lebanese ambassadors and recalled their own.

"If there is a true initiative to reform the economic structure, reform the governance structure, reform the way the economy is managed, then I think you can call on the regional states to offer all kinds of support," Prince Faisal said, mentioning technical and economic support as well as developmental aid.

He said a "short-term panacea" would not help Lebanon, which went into financial meltdown in 2019 under the weight of huge public debts, slicing more than 90% off the local currency's value and plunging a majority of the population into poverty.

Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.