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Quick Gulf Movement Pushes Bahraini Dinar to Recover

Quick Gulf Movement Pushes Bahraini Dinar to Recover
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Quick Gulf Movement Pushes Bahraini Dinar to Recover

Quick Gulf Movement Pushes Bahraini Dinar to Recover

Bahrain’s dinar recovered against the American dollar in the spot markets during early trading on Wednesday, while Central Bank of Bahrain announced covering the most recent issuance of government treasury bills up to 129 percent.

The recovery of the Bahraini dinar came quick after the standpoint announced by Saudi Arabia with the participation of UAE and Kuwait to support economic reforms in Bahrain in which Saudi Arabia announced that it continues along with Kuwait and UAE talks with Bahrain to reinforce the financial conditions stability.

“The kingdom of Bahrain, along with its sisters Saudi Arabia, the United Arab Emirates and Kuwait, will announce a programme to support the stability of the financial situation in Bahrain,” Finance Minister Sheikh Ahmed bin Mohammed al-Khalifa told the official BNA news agency.

Saudi Arabia, UAE and Kuwait announced an economic program to support financial stability in Bahrain and the recovery of Bahraini dinar. A comprehensive program to back economic reforms and general finance stability in Bahrain is anticipated soon. Positive reactions were restricted to the progress of Bahraini dinar in which Bahrain bills recovered strongly.

Saudi Arabia's Minister of Finance Mohammed Al-Jadaan affirmed that Bahrain has started a package of financial and economic reforms, and will continue to carry out these reforms with the support of its sisters in the Gulf.

The stance announced by Saudi Arabia with the participation of UAE and Kuwait to support economic reforms in Bahrain falls under the Saudi fixed policy to stand with Bahrain no matter what challenges it faces.

Saudi Arabia’s support to Bahrain comes as a continuity to the kingdom’s policy to its sisters and allies in which Saudi Arabia has been the first economic and political backer to Bahrain throughout the history of both countries’ ties.

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Presidential Election: A Crucial First Step toward Saving Lebanon from Economic Crisis

The vacant presidential seat at Baabda Palace after President Michel Aoun's term ended (Reuters)
The vacant presidential seat at Baabda Palace after President Michel Aoun's term ended (Reuters)
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Presidential Election: A Crucial First Step toward Saving Lebanon from Economic Crisis

The vacant presidential seat at Baabda Palace after President Michel Aoun's term ended (Reuters)
The vacant presidential seat at Baabda Palace after President Michel Aoun's term ended (Reuters)

Since 2019, Lebanon has faced one of its worst economic crises in modern history, affecting all aspects of life. The local currency has lost over 95% of its value, driving inflation to record levels and making goods and services unaffordable. Poverty and unemployment have surged.
Amid this, political divisions have paralyzed government action, preventing any effective response to the crisis.
The recent war with Israel added to the burden, causing huge human and material losses estimated by the World Bank at $8.5 billion. This has made Lebanon’s economic and social struggles even harder to resolve, with no president in place to lead the country.
The presidential post in Lebanon has been vacant since President Michel Aoun's term ended in October 2022, leaving the country without a leader to address growing economic and financial issues.
This vacancy has stalled government formation, making it difficult for Lebanon to negotiate with international donors like the International Monetary Fund (IMF), which demands major reforms in exchange for aid.
Choosing a new president is now a critical priority, not only to regain local and international confidence but also to begin the long-needed reforms.
One major challenge the new president will face is the reconstruction effort, which is estimated to cost over $6 billion. This is a huge financial burden that will require significant resources and effort to secure funding.
Reconstruction in Lebanon is not just about fixing infrastructure or repairing damage; it is a key test of the country’s ability to restore its role on the regional and international arena.
To achieve this, Lebanon needs a president with a clear vision and strong international connections, able to engage effectively with donor countries and major financial institutions.
Without credible and unified political leadership, Lebanon’s chances of gaining external support will remain limited, especially as international trust has been shaken by years of mismanagement and lack of reforms.
Keeping Lebanon’s deepening crises in mind, the people are hoping that electing a new president will offer a chance for economic and political recovery.
The new president, along with a strong government, is expected to rebuild trust both locally and internationally and restore political stability—key factors for stopping the economic decline and encouraging growth.
For instance, reviving Lebanon’s vital tourism sector will require better security and restoring confidence in the country as a safe place for investment.
This can only happen with political leadership that has a clear plan for reconstruction and necessary reforms.
Given Lebanon’s ongoing financial struggles, the new president’s ability to address these challenges will be critical to rescuing the country and guiding the economy toward recovery and sustainable growth.