Hundreds of people in Beirut have taken to the streets to protest deteriorating economic conditions and the high cost of living, which prompted the central bank to issue a new measure aimed at easing the currency crisis.
During the Abu Dhabi Culture Summit, panelists agreed that the restoration of war-torn country's heritage is at the heart of economic development. They added that Iraq's al-Nuri Mosque in Mosul was a symbol of hope for the embattled community.
Despite an economic downturn and the freezing of Libyan state funds since 2011, investors in the country are attempting to find new avenues of opportunity across Africa by building bridges with other countries.
In Lebanon, attempts to form a government have been deadlocked since Hezbollah and its allies have secured a cabinet majority. Prime Minister Saad al-Hariri heads into the fall all but powerless to address the economic decline.
Presidential Council member Fathi al-Mijibri announced that the Presidential Council and the Central Bank of Libya have agreed on economic reforms that would fix the prices of fuel and foreign currency exchange rates in the market.
Before the May 6 vote, leaders from across the deeply divided political establishment sounded the alarm about the state’s finances and economy. Lebanon is the world’s third-most indebted nation with a debt-to-GDP ratio of more than 150 percent