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Lebanon's PM packs cabinet with heavy hitters from business and finance world

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Lebanon's Prime Minister Nawaf Salam formed a government on Saturday, ending more than two-and-a-half years of caretaker leadership. The formation of a new government is a crucial step for the country before the expiry of a ceasefire agreement with Israel on February 18.
The article from MSN discusses the recent formation of Lebanon's new cabinet under Prime Minister Najib Mikati, which includes several prominent figures from the business and finance sectors. This move is seen as an attempt to address Lebanon's severe economic crisis, characterized by a plummeting currency, hyperinflation, and widespread poverty. Key appointments include former finance minister Youssef Khalil, who returns to his post, and Walid Fayad, a former minister of energy and water, now taking on the role of minister of finance. The inclusion of these heavy hitters is aimed at leveraging their expertise to stabilize the economy, negotiate with international creditors, and implement reforms demanded by the International Monetary Fund (IMF) for a bailout package. However, the article also notes skepticism regarding the effectiveness of these appointments given the deep-rooted corruption and political gridlock in Lebanon.

Read the Full MSN Article at:
[ https://www.msn.com/en-ae/news/middleeast/lebanon-s-pm-packs-cabinet-with-heavy-hitters-from-business-and-finance-world/ar-AA1yGzuc ]