Lebanon’s Cabinet Formation as Positive for Economy

The Daily Star

November 17, 2009

Merrill Lynch indicated that the formation of Lebanon’s long-awaited national unity government is positive, as it correlates Lebanon’s economic performance over the last two years largely with political stability in the aftermath of Doha accord in 2008, as reported by Lebanon This Week, the economic publication of the Byblos Bank Group. …

It noted that political stability and some progress on reforms and privatization, along with the currently solid macroeconomic performance and strong banking sector, should pave the way for a sovereign rating upgrade. It considered that Lebanon is getting closer to such an upgrade following the formation of the unity government.

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Determined to Reach a Common Objective

“We knew at the outset that the task would be difficult. We acknowledged that publicly and privately. We knew this would be a road with many bumps— and there have been many bumps—and that continues to this day. But we are not deterred. We are, to the contrary, determined more than ever to proceed to realize the common objective, which we all share, of a Middle East that is at peace with security and prosperity for the people of Israel, for Palestinians, and for all the people in the region. We will continue our efforts in that regard, undeterred and undaunted by the difficulties, the complexities or the bumps in the road.”—George Mitchell, special envoy for Middle East peace, remarks with Prime Minister Netanyahu, September 29, 2010

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