Lebanon Cabinet Fails to Select Successor to Central Bank Head

Lebanon's caretaker Prime Minister Najib Mikati meets with vice-governors of Lebanon's central bank and other officials, at the government palace in Beirut, Lebanon July 26, 2023. Dalati Nohra/Handout via REUTERS
Lebanon's caretaker Prime Minister Najib Mikati meets with vice-governors of Lebanon's central bank and other officials, at the government palace in Beirut, Lebanon July 26, 2023. Dalati Nohra/Handout via REUTERS
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Lebanon Cabinet Fails to Select Successor to Central Bank Head

Lebanon's caretaker Prime Minister Najib Mikati meets with vice-governors of Lebanon's central bank and other officials, at the government palace in Beirut, Lebanon July 26, 2023. Dalati Nohra/Handout via REUTERS
Lebanon's caretaker Prime Minister Najib Mikati meets with vice-governors of Lebanon's central bank and other officials, at the government palace in Beirut, Lebanon July 26, 2023. Dalati Nohra/Handout via REUTERS

Lebanon's cabinet on Thursday failed to meet to choose a successor to long-time central bank governor Riad Salameh, meaning the bank could be leaderless from Monday as the country lurches towards a fifth year of financial turmoil.

Salameh, 72, leaves office on Monday after 30 years as governor with Lebanon's economy in tatters and facing charges of embezzling public funds, which he denies.

The looming prospect of a leadership vacuum at the central bank raises fears of further state fragmentation, and reflects wider divisions that have also left the presidency vacant and the country without a fully empowered cabinet for over a year, Reuters reported.

Caretaker premier Najib Mikati and Speaker Nabih Berri have led efforts to name a new governor. However, Hezbollah and the Free Patriotic Movement have rejected the moves, saying a caretaker cabinet had no right to take that step.

Thursday's cabinet session was cancelled minutes after it was set to start because there were not enough ministers to meet the quorum.

"Today, we had an opportunity to temporarily address a file related to the financial and monetary situation. Unfortunately, the political calculations of the concerned parties within the government have priority over others, so let each party bear responsibility for its decision," a statement by Mikati said.

According to Lebanon's code of money and credit, the first of four vice governors must take over when Salameh leaves office. But all four have threatened to resign if no successor is appointed.



US Vetoes UN Security Council Resolution on Gaza Ceasefire

Members of the United Nations Security Council listen as Ambassador Majed Bamya, Deputy Permanent Observer of the State of Palestine to the UN, speaks meeting on the situation in the Middle East, including the Palestinian question at the UN headquarters on November 20, 2024 in New York City. (Getty Images via AFP)
Members of the United Nations Security Council listen as Ambassador Majed Bamya, Deputy Permanent Observer of the State of Palestine to the UN, speaks meeting on the situation in the Middle East, including the Palestinian question at the UN headquarters on November 20, 2024 in New York City. (Getty Images via AFP)
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US Vetoes UN Security Council Resolution on Gaza Ceasefire

Members of the United Nations Security Council listen as Ambassador Majed Bamya, Deputy Permanent Observer of the State of Palestine to the UN, speaks meeting on the situation in the Middle East, including the Palestinian question at the UN headquarters on November 20, 2024 in New York City. (Getty Images via AFP)
Members of the United Nations Security Council listen as Ambassador Majed Bamya, Deputy Permanent Observer of the State of Palestine to the UN, speaks meeting on the situation in the Middle East, including the Palestinian question at the UN headquarters on November 20, 2024 in New York City. (Getty Images via AFP)

The United States on Wednesday vetoed a UN Security Council resolution for a ceasefire in Gaza, drawing criticism of the Biden administration for once again blocking international action aimed at halting Israel's war with Hamas.

The 15-member council voted on a resolution put forward by 10 non-permanent members that called for an "immediate, unconditional and permanent ceasefire" in the 13-month conflict and separately demanded the release of hostages.

Only the US voted against, using its veto as a permanent council member to block the resolution.

Robert Wood, deputy US ambassador to the UN, said Washington had made clear it would only support a resolution that explicitly calls for the immediate release of hostages as part of a ceasefire.

"A durable end to the war must come with the release of the hostages. These two urgent goals are inextricably linked. This resolution abandoned that necessity, and for that reason, the United States could not support it," he said.

Wood said the US had sought compromise, but the text of the proposed resolution would have sent a "dangerous message" to Palestinian group Hamas that "there's no need to come back to the negotiating table."

Israel's campaign in Gaza has killed nearly 44,000 people and displaced nearly all the enclave's population at least once. It was launched in response to an attack by Hamas-led fighters who killed 1,200 people and captured more than 250 hostages in Israel on Oct. 7, 2023.

Members roundly criticized the US for blocking the resolution put forward by the council's 10 elected members: Algeria, Ecuador, Guyana, Japan, Malta, Mozambique, South Korea, Sierra Leone, Slovenia and Switzerland.

"It is deeply regretted that due to the use of the veto this council has once again failed to uphold its responsibility to maintain international peace and security," Malta's UN Ambassador Vanessa Frazier said after the vote failed, adding that the text of the resolution "was by no means a maximalist one."

"It represented the bare minimum of what is needed to begin to address the desperate situation on the ground," she said.

Food security experts have warned that famine is imminent among Gaza's 2.3 million people.

US President Joe Biden, who leaves office on Jan. 20, has offered Israel strong diplomatic backing and continued to provide arms for the war, while trying unsuccessfully to broker a ceasefire deal between Israel and Hamas that would see hostages released in exchange for Palestinians held by Israel.

After blocking earlier resolutions on Gaza, Washington in March abstained from a vote that allowed a resolution to pass demanding an immediate ceasefire.

A senior US official, who briefed reporters on condition of anonymity ahead of Wednesday's vote, said Britain had put forward new language that the US would have supported as a compromise, but that was rejected by the elected members.

Some members were more interested in bringing about a US veto than compromising on the resolution, the official said, accusing US adversaries Russia and China of encouraging those members.

'GREEN LIGHT'

France's ambassador Nicolas de Riviere said the resolution rejected by the US "very firmly" required the release of hostages.

"France still has two hostages in Gaza, and we deeply regret that the Security Council was not able to formulate this demand," he said.

China's UN ambassador, Fu Cong, said each time the United States had exercised its veto to protect Israel, the number of people killed in Gaza had steadily risen.

"How many more people have to die before they wake up from their pretend slumber?" he asked.

"Insistence on setting a precondition for ceasefire is tantamount to giving the green light to continue the war and condoning the continued killing."

Israel's UN ambassador Danny Danon said ahead of the vote the text was not a resolution for peace but was "a resolution for appeasement" of Hamas.

"History will remember who stood with the hostages and who abandoned them," Danon said.