|Najib Mikati, the New Prime Minister (khan.co.kr)|
About a year after a massive explosion at a Beirut container terminal on August 4th last year, Lebanon is now in the middle of political confusion and economic difficulty. The value of their currency has declined 90 percent, and foreign exchange holdings are out of money, which has led to the end of imports of gas and other commodities. The electricity was cut off in the major cities because power plants did not have enough gas to operate, and 80 percent of pharmacies closed their doors despite coronavirus disease 2019 (COVID-19). This situation occurred because the cabinet has resigned en bloc, and political debate continued for 11 months to form a new government. Even though Lebanon adopted a presidential system, the prime minister actually holds the power. Moreover, the president, prime minister, and parliament speaker each come from different religious sects in order to keep the balance of power. However, politicians could not agree on a new cabinet, resulting in a year of anarchy. Fortunately, on July 26th, Najib Mikati was chosen as the next prime minister. He is the richest person in Lebanon with a fortune of 2.8 trillion won, so the public has high expectations for economic recovery. Two previous prime minister-designates, however, already gave up the composition of the government, so it seems that it will be difficult to handle the current situation.
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