Lebanon is expected to lift its oil, flour, and medicine subsidies soon as reserves at the central bank diminish, and the prices of goods, already inflated, will rise further as a result. Meanwhile, the stalemate in cabinet formation only aggravates the situation. And if the new cabinet, when established, does not gain confidence from the international community and financial donors, particularly the International Monetary Fund (IMF), the situation will continue to rapidly deteriorate.
An anti-government protester shouts slogans while wearing a mask with the colors of the Lebanese flag in Beirut, Lebanon, Thursday, July 2, 2020. (AP)
People march during a demonstration marking one year since the start of nation-wide protests in Beirut, Lebanon October 17, 2020. (Reuters)