“Lebanon is set to request a $10 billion bailout from the International Monetary Fund (IMF), to stem the country’s economic crisis, as part of the country’s financial rescue plan.”
Meanwhile, the jihad terror group Hizballah has been gaining power in Lebanon, and holds 10% of parliamentary seats and two key ministry positions, including the Health Ministry.
Protesters have been taking to the streets against “the government’s handling of the unprecedented crisis that saw the collapse of the local currency, devastating their economies and driving up prices and inflation.”
Yet more money in Lebanon from the IMF will mean more money for Hizballah’s jihad terror operations, not necessarily for domestic improvements. Hizballah is a proxy of Iran, “has the strongest military force in Lebanon, with thousands of trained fighters and more than 100,000 rockets and missiles pointed at Israel.”
The Secretary-General of Hizballah, Hassan Nasrallah, put his own conditions on the bailout package, insisting that it must “not breach Lebanese sovereignty.” That is, the money must come with no conditions on how it is used.
The IMF has engaged in expanding Sharia financing, which is heavily connected to jihad terror. The IMF has also been influential in establishing the Islamic Financial Services Board. America “is the largest cumulative contributor to the IMF at $155 billion and the largest voting bloc—holding effective veto power for many decisions.” This is yet another organization that America should make demands of in the interests of defending free society, or else should reassess the terms of its involvement in the IMF, particularly if it opts to bail out Lebanon under Hizballah’s conditions.
Meanwhile, Nasrallah has blasted Germany for its move to ban Hizballah, designate it as a terrorist organization and raid mosques. He threatened that Germany “would not deter Hezbollah from confronting its foes.”
“Coca Cola to end Lebanon operation as Beirut requests $10bn bailout from IMF,” MEMRI, May 1, 2020:
Lebanon is set to request a $10 billion bailout from the International Monetary Fund (IMF), to stem the country’s economic crisis, as part of the country’s financial rescue plan, Prime Minister Hassan Diab said yesterday.
The roadmap includes a reform package and plans to unlock $11 billion in conditional aid donations promised by the international community in 2018, but never unlocked, because successive Lebanese governments failed to implement the necessary reforms.
In a televised address after the meeting, Diab said: “For the first time in history [the government has] a complete and integrated financial plan, which puts an end to floundering financial policies that brought the country to the current state of collapse.”
Adding, “we will ask for a loan program from the International Monetary Fund… and move forward with that.”
The move to seek an aid package from the IMF, however, has come as a surprise for many, after powerful Hezbollah officials strongly warned against the step in February.
Hezbollah opposition to IMF involvement has softened in recent months, after Iran, the militia group’s main backers, requested emergency funding from the organisation.
Secretary-General of Hezbollah Hassan Nasrallah, however, has maintained that conditions – a normal feature of IMF bailout packages – must “not breach Lebanese sovereignty”.
Since, however, Lebanon has defaulted on its $1.2 billion Eurobond, and is seeking to restructure more than $90 billion of public debt.
Meanwhile the country’s currency, the lira, has lost more than 50 per cent of its value on the parallel market in recent months, reigniting anti-government protests which started in October….
Halal Bacon says
IMF is all about the conditionality baby – no tickey no laundry
mortimer says
Beggars can’t be choosey. Why pour money down a bottomless pit that’s on fire?!
Alarmed Pig Farmer says
A liberal would answer that the money is necessary to put out the fire. It’s been blazing for 1,400 years now, so all the more U.S. taxpayer dough is necessary.
***
On the other hand, if they give Lebanon so much a one penny that’s one more reason to withdraw from the IMF.
Jim says
Unless Lebanon bans and kicks out Hezballah, there is no way the IMF (i.e. the United States) should give them any money.
Simone says
Exactly, that should be the condition.
libertyORdeath says
I personally don’t give a shit whether they ban Hezbollah publicly as I don’t believe that it will be a real total ban. I also don’t think the rest of the world should constantly bail out any country who cannot handle their own finances. Hezbollah and jihad aside, why are we responsible for their poor spending habits? Once you add in the jihad aspect there should be no way that we should send billions of jizyah dollars to a hostile nation that has shown a complete inability to handle their financial affairs. The West already contributes billions to countries like this through charity and other initiatives. When is enough enough?
Kuffar says
Make Lebanon a Christian country again. Then ask again. Otherwise FU
DHazard says
I guess the Islamic economic plan from Allah doesn’t work, and Allah doesn’t accept returns. You just have to cancel the whole thing and start over from scratch.
gravenimage says
Lebanon seeks $10,000,000,000 bailout from the IMF as Hizballah’s power increases
…………………
Lebanon *used* to be a civilized nation. Now that it is Muslim-majority, it is an unfree economic basket case.
Simone says
?
infidel says
Once a beautiful Christian land with Beirut rivaling Paris in its urban splendor. As an example, the superhit 1960s Bollywood movie – An Evening in Paris – was actually fully shot in Beirut those days…
And now how the mad animals of Jehaad have completely run it down to the sewer. Islam brings nothing but ruin and anguish.
Simone says
?
gravenimage says
Beirut was known as the Paris of the Levant. I was stunned to learn that, because when I was a child in the late ’60s and ’70s Beirut was synonymous with “war torn hell hole”.
Aunty Podes says
And, guess what? Those idiotic charlatans in the IMF will give it to them. That’s what they are there for – to throw other folks money around with gay abandon. Who gives them the money and/or that right? Now, there’s a good question! Not, you, not I! It’s our masters – the nouveau communatzis …
The price of freedom is eternal vigilance –
But we weren’t watching, were we?
This is the price we pay – just a start …
OLD GUY says
Maybe these idiot muslim/islamics should try working for a living and the rest of us should let them starve if they are unwilling to take care of themselves. The people who work the hardest seem to always have to pay for the lazy slackers around the world its time to tell them to piss off and work like the rest of us or go without.
If Islam is so dam great why are they always begging. Seems like they are taking advantage of the rest of us and it is time to let them pay their own way.