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Lebanese PM to Meet Financial Adviser Lazard Soon over Rescue Plan

Lebanese Prime Minister Najib Mikati arrives to attend a cabinet meeting at the presidential palace in Baabda, east of Beirut, Lebanon, Monday, Sept. 13, 2021. (AP)
Lebanese Prime Minister Najib Mikati arrives to attend a cabinet meeting at the presidential palace in Baabda, east of Beirut, Lebanon, Monday, Sept. 13, 2021. (AP)
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Lebanese PM to Meet Financial Adviser Lazard Soon over Rescue Plan

Lebanese Prime Minister Najib Mikati arrives to attend a cabinet meeting at the presidential palace in Baabda, east of Beirut, Lebanon, Monday, Sept. 13, 2021. (AP)
Lebanese Prime Minister Najib Mikati arrives to attend a cabinet meeting at the presidential palace in Baabda, east of Beirut, Lebanon, Monday, Sept. 13, 2021. (AP)

Prime Minister Najib Mikati will meet with the advisory firm Lazard soon to see how a financial recovery plan it drafted for Lebanon could be developed into a "more realistic" vision for getting the country out of its crisis, he said on Monday.

Mikati also said Lebanon would be very lucky if it was able to reach a framework for an agreement with the International Monetary Fund by the end of the year. Mikati took office earlier this month determined to revive IMF talks.

A billionaire tycoon, Mikati faces a difficult path to remedying one of the sharpest financial meltdowns of modern times. The challenges include his government's limited shelf-life, with elections due next Spring.

In the most detailed comments yet on his approach for trying to reverse Lebanon's devastating financial meltdown, Mikati said in an interview with broadcaster LBCI that there would be a fair distribution of the losses in the financial system and to protect small depositors.

Lazard helped the previous government draw up a financial rescue plan that identified losses of some $90 billion in the financial system.

But the plan was shot down by objections from the banks, which said it made them foot too much of the bill for the collapse, in addition to opposition from the central bank and the ruling political elite that got Lebanon into its crisis.

Reaching agreement on the losses is seen as the first step towards a deal with the IMF, which endorsed the figures in the previous government's plan.

"I will not announce anything except if the whole financial recovery plan is complete," Mikati told LBCI.

"We have the financial recovery plan, I have asked the company that set it to come to Lebanon and they will come and I will have a meeting with them in the coming days ... to see how we can update this plan", Mikati said.

"I want to ask for a more realistic plan to get out of this crisis we are in," he added.

Mikati said he was not planning to privatize state assets.

Wants to protect small depositors
An IMF agreement is seen as Lebanon's only path to accessing aid from foreign donors who are demanding reforms to address the root causes of the collapse, including state corruption and waste.

"We will be very lucky if we finish before new year," Mikati said when asked about how long it might take to reach an IMF deal.

"We will be lucky if we put the main framework (by then)."

Mikati formed a government after a year of political deadlock that compounded an economic meltdown that has propelled three quarters of Lebanon's population into poverty and seen its currency plummet by more than 90%.

Savers have been frozen out of the paralyzed banking system, being forced to take a hair-cut of as much as 80% of the value of their deposits on withdrawals.

"I want to protect the depositor as much as possible, the small depositors, I need to see how we can do that, this is what I'm trying to do," Mikati said.

"The inclination is definitely to protect the small depositors who have between $50,000 to $70,000 accounts, and these will take their money in dollars for sure."

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Arab World

Arab Parliament Speaker Condemns Continued Iranian Attacks on Arab States

Arab Parliament Speaker Condemns Continued Iranian Attacks on Arab States
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Arab Parliament Speaker Condemns Continued Iranian Attacks on Arab States

Arab Parliament Speaker Condemns Continued Iranian Attacks on Arab States

Arab Parliament Speaker Mohammed Al-Yamahi condemned the continued systematic Iranian terrorist attacks against several Arab states, describing them as a flagrant violation of international law and the principles of the United Nations Charter, as well as a direct threat to regional security and stability, SPA reported.

He said in a statement that the attacks carried out by Iran since the outbreak of the war, using missiles and drones, reflect a recurring hostile approach that disregards state sovereignty and the safety of civilians.

He stressed that the targeting of infrastructure facilities and the resulting casualties reveal a clear disregard for international humanitarian law and reflect a determination to undermine security and stability in the region.

The Arab Parliament speaker held the Iranian regime fully responsible for these acts and their repercussions, calling on the international community to assume its responsibilities and take a firm and immediate stance to halt these violations and end the aggressive policies threatening regional and international peace and security.

Al-Yamahi also renewed the Arab Parliament’s full support for the measures taken by the targeted Arab states to preserve their security and stability, safeguard their sovereignty, and act in accordance with international law and their legitimate right to self-defense.

Arab World

Iraq Pushes to Centralize War Powers Under State Control

Relatives of a soldier killed in an airstrike on Habbaniyah base carry the Iraqi flag during his funeral (AFP)
Relatives of a soldier killed in an airstrike on Habbaniyah base carry the Iraqi flag during his funeral (AFP)
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Iraq Pushes to Centralize War Powers Under State Control

Relatives of a soldier killed in an airstrike on Habbaniyah base carry the Iraqi flag during his funeral (AFP)
Relatives of a soldier killed in an airstrike on Habbaniyah base carry the Iraqi flag during his funeral (AFP)

Iraqi security sources reported a breakthrough in investigations into rocket and drone attacks on diplomatic and security sites, as political and legal pressure intensifies to confine decisions of war and peace to the state.

A security source familiar with the probe told Asharq Al-Awsat that authorities have begun identifying those behind the launches. The information was obtained after the arrest of three members of an armed faction, who were already subject to arrest warrants.

Security forces also detained another group suspected of involvement in attacks targeting the US embassy in Baghdad, the source said.

More arrest warrants are expected as investigators pursue others suspected of carrying out rocket and drone attacks in violation of the law.

Judicial warnings

The government has not named those responsible, but armed factions have repeatedly claimed similar operations through statements and online platforms, complicating the security landscape and weakening state control over weapons.

The developments follow a warning from Supreme Judicial Council President Faiq Zidan of “serious repercussions” from unilateral military decisions by factions and non-official entities. He said such actions violate the constitution and risk exposing Iraq to international isolation and sanctions.

Zidan said declaring a state of war requires a constitutional process, including approval by two-thirds of parliament based on a joint request from the president and prime minister.

The escalation underscores growing tension between the state and armed factions, as authorities seek to reassert institutional control amid rising domestic and international criticism over fragmented security decision-making and continued attacks on diplomatic missions.

Regional war dynamics

Officials describe the situation as indirect involvement in the region’s “geography of war,” with repeated attacks on sites linked to the US presence in Baghdad and Erbil, alongside airstrikes on military positions inside Iraq.

Since the start of the Middle East war, Iraqi factions have claimed attacks on US interests.

Iran has struck Iranian Kurdish opposition groups in northern Iraq, while sites linked to the Popular Mobilization Forces and Iran-aligned factions have been hit by airstrikes attributed to the United States and Israel.

War powers debate

Calls are growing within Iraq to reaffirm that decisions of war and peace rest solely with constitutional institutions.

Prime Minister Mohammed Shia al-Sudani said the government is “the sole authority” empowered to take such decisions, despite operating in a caretaker capacity following recent parliamentary changes.

The Foreign Ministry reiterated Baghdad’s firm rejection of any attacks targeting Gulf states, stressing solidarity with sister countries and commitment to their security and stability. It said Gulf security is inseparable from Iraq’s national security and that regional stability serves all.

Saudi Arabia, the United Arab Emirates, Kuwait, Bahrain, Qatar and Jordan have condemned attacks by Iran-aligned Iraqi factions on regional countries and infrastructure, calling them violations of international law.

Energy risks

President Abdul Latif Rashid reiterated Iraq’s rejection of war, voicing deep concern over the widening conflict and calling for an immediate halt to military operations and a return to dialogue.

In a phone call with Iranian President Masoud Pezeshkian, Rashid said continued war serves no country in the region and threatens Middle East stability.

He added that Iraq, both its people and government, calls for peace and expresses solidarity with the Iranian people, praising their resilience in the face of “attacks.”

In Geneva, Iraq’s mission to the United Nations warned that expanding the conflict would deepen crises and undermine stability. Jaafar Mohammed, second secretary at Iraq’s mission, cautioned that disruptions to energy supply chains through the Strait of Hormuz could have global economic repercussions.

Arab World

Lebanese Army ‘Repositions’ Itself in the South to Avoid Contact with Israel

A Lebanese army patrol in southern Lebanon. (Lebanese army file photo)
A Lebanese army patrol in southern Lebanon. (Lebanese army file photo)
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Lebanese Army ‘Repositions’ Itself in the South to Avoid Contact with Israel

A Lebanese army patrol in southern Lebanon. (Lebanese army file photo)
A Lebanese army patrol in southern Lebanon. (Lebanese army file photo)

The Lebanese army and security forces are carrying out a “preventive” redeployment of units in the south under Israeli fire, in a move seen as aimed at avoiding direct contact or friction with Israeli forces.

The step comes amid the absence of a political decision to confront Israeli incursions militarily, and is viewed as the adoption of “protective tactics” for personnel in an area witnessing ongoing clashes.

A Lebanese security source familiar with the matter told Asharq Al-Awsat that the forces follow a fixed field principle of remaining alongside residents until the last moment before they need to evacuate an area.

“Personnel stay where civilians are, and withdraw only after displacement is complete, and before any potential Israeli advance, ensuring neither they nor residents are exposed to danger,” the source said.

Deployment is directly tied to displacement patterns and conditions in each town, the source said, noting that “the presence of residents is a decisive factor in the Internal Security Forces maintaining their posts.”

“Posts are not evacuated under a declared central plan, but based on changing field data,” the source added. “Every town that is emptied of its residents is automatically followed by the evacuation of its police post, with personnel joining the nearest military point.”

The town of Khiam was “among the last locations to maintain a security presence alongside residents until the final stages of displacement, before it was evacuated” as Israeli forces advanced.

Military pullback, local pushback

The town of Debel highlights the complexity of the situation between the military and civilians. A local source said the army had maintained an advanced position on its outskirts, but as limited Israeli incursions began nearby, the position was withdrawn overnight into the town, specifically to the public school.

“The withdrawal did not stop there,” the source said. “The following day, personnel were completely pulled out of Debel toward Rmeish, leaving no effective military presence inside the town, while personnel from Debel remained in their homes in civilian clothing.”

The most sensitive step was a proposal to relocate soldiers from the town, along with their families, outside the area, a move locally seen as a prelude to emptying the town. It was met with widespread rejection.

About 200 security personnel from Debel serve in the army and security forces, meaning their departure with their families would have led to the near-total evacuation of the town. Political and local efforts, involving the defense and interior ministries and religious authorities, led to the plan being frozen.

Despite the tension, the source said the town is not under siege, noting that the Debel-Rmeish road remains open, easing pressure for evacuation. Residents and personnel remain in their homes, while military positions and police posts continue operating in nearby towns, such as Ain Ebel and Rmeish.

Local media reported that the army repositioned at the Khardali checkpoint, the main gateway to the southern Litani area from the eastern sector, and is preparing to redeploy at the Kafra checkpoint, as Israeli forces advance toward Beit Lif and the facing Wadi al-Oyoun from the south.

Lebanese army commander General Rodolphe Haykal inspected units in Beirut and the southern city of Sidon and reviewed security measures within their areas of responsibility.

He urged troops to maintain readiness “to prevent any breach of security, and to act firmly against any attempt to undermine internal stability.”

“Despite rumors and incitement campaigns aimed at undermining the sacrifices and efforts of soldiers, the army will not hesitate to carry out its national duties,” he said, calling on troops “not to be influenced by such rumors, to adhere to their doctrine, and remain committed to performing their national duty.”

Preventive strategy

Former MP and retired brigadier general Chamel Roukoz said the moves “cannot be described as a traditional military withdrawal,” but rather a calculated field redeployment shaped by an asymmetric confrontation, given Israeli air and firepower superiority and the risk of direct targeting of exposed positions.

He said the army operates within a margin set by political authority, noting that no decision has been issued by the government to engage or confront Israeli forces directly.

“The military institution manages its deployment accordingly, balancing field presence with safety requirements,” he said.

On the evacuation of positions, including those reported in Debel, Roukoz said the measures “do not reflect abandonment of territory or a collapse of the front,” but rather precautions imposed by field realities, where some positions become easy targets under bombardment.

He said the redeployment carries operational and morale dimensions, aiming to avoid direct friction in the absence of a political decision, preserve troop morale, and avoid pushing forces into unequal confrontations.

The army command, he added, is showing “high flexibility” in managing deployment, shifting from exposed positions to safer ones.

Roukoz said the developments fall within “protection and redeployment tactics adopted in high-risk environments,” reflecting careful management of the balance between political decision-making and field realities.