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Monday, 31 October 2022

Lebanon is now without a president + Ghana lines up for IMF aid

Lebanon is president-less: Lebanese President Michel Aoun left office yesterday following the end of his six-year term, with the country’s parliament yet to agree on a successor. MPs have held four votes to choose a successor but no candidate has garnered a majority, leaving the country in limbo. The outgoing president told Reuters the day before his exit that the country was falling into “constitutional chaos.”

Ghana could be up next for an IMF bailout — and the nation’s president was out yesterday doing his best to reassure bondholders that debt relief is not on the negotiating table, according to Reuters. The West African nation has been negotiating a loan with the IMF since July after foreign investors exited the country and people took to the streets in protest at rising inflation and a plunging currency.

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