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Ambassador James Jeffrey
Wilson Center -
Giampiero Massolo
ISPI -
Merissa Khurma
Wilson Center -
Hadley Gamble
CNBC -
David Hale
Wilson Center
For almost a year and a half, Lebanon has been assailed by compounded crises—specifically, an economic and financial crisis, followed by COVID-19, and lastly the explosion at the Port of Beirut. A confluence of government malpractice, economic instability and external interference has driven Lebanon's devastating crisis. Without significant change, there are concerns it could persist indefinitely.
With the economy now in dire straits, the parameters which govern the shaping of a new Lebanon need examination. Within Lebanon there is an active and continuous debate on the subject. The debate so far has ranged from short-term measures to stop the bleeding and unlock donor support to comprehensive political and economic reforms of the country—without any agreement in sight while the crisis deepens. It is time to examine a two-stage approach; the first stage focusing on a minimal program to rescue the financial system, buying time to build a consensus on a full reconstruction and reform plan.
A conference will be held on June 30th to release a report co-authored by Ambassador James Jeffrey, Chair of the Wilson Center Middle East Program, Merissa Khurma of the Wilson Center, Rand Ghayad who most recently worked at the IMF, and Hung Tran of the Atlantic Council detailing the most reasonable plan to put an end to the crisis and restart growth. This report has been informed by four workshops with leading scholars, former government officials, and experts from the United States, Europe, and Lebanon.