Presidential Election
After more than two years of political deadlock and 12 failed attempts, the parliament has elected the commander of the Lebanese Armed Forces, Joseph Aoun, as president. Not much is known about Aoun apart from his military career.
In his inaugural speech, Aoun highlighted several points most importantly a “new judicial independence bill”, wider judicial reforms and appointments, “rotation” in Tier-1 public jobs, the “state’s right to monopolize arms”, post-war reconstruction, support for the “two-state solution endorsed at the Beirut summit”, and ending the Israeli occupation of South Lebanon.
Notably, the Lebanese Lira gained against the dollar after the election and the government Eurobonds rallied to reach almost three times their values in September.
Aoun has announced that he will hold consultations on Monday for the appointment of a new Prime Minister. He also received an official invite by MBS to visit Saudi Arabia.
War on Lebanon
Israel continued its attacks on Lebanon this week by firing shells at houses in Bint Jbeil and Borj El Mlouk, demolishing houses in Bani Hayyan and Kfarkela, and killing 6 people in a raid on Saturday. Lebanese and Syrians were also abducted from Majidieh, Hasbayya District with one of the Lebanese being a soldier. The abductees were later released.
The Lebanese Army deployed in Naqoura on Monday in coordination with the UNIFIL.
Al-Akhbar reported, through information from their sources, that Hochstein relayed a US guarantee for a full Israeli withdrawal before the end of the 60 day deadline.
The United States is planning on sending $95m in military aid to the Lebanese Army, money that was originally intended for Egypt.
Imran Riza, the UN Special Coordinator for Lebanon, issued remarks detailing that 125,000 people are still displaced and that “an additional $371.4 million is urgently needed to sustain life-saving efforts and prevent the worsening of an already dire situation”. He later announced “a $30 million allocation from the Lebanon Humanitarian Fund” for urgent humanitarian needs.
There is still no clear plan for reconstruction. It seems like the war debris will be dumped at the Costa Brava landfill, a decision previously criticized by the Choueifat Municipality.
Government Activity
Tuesday, January 7 saw the first cabinet meeting of the year where the cabinet discussed the extradition of Abdul Rahman Yusuf and the draft banking reform law. Financial advisor Mike Azar wrote an excellent tweet discussing the draft law and its consequences.
Mikati also visited Syria on Saturday to meet with de-facto leader Ahmad Al-Sharaa.
Weapons Smuggling
According to a report by Al-Akhbar, a shipment of weapons arrived last week to a “group of Lebanese and Syrians with salafist leanings” in Sabra, Beirut. The report is based on information obtained from unnamed security sources and further explains that these weapons arrived from the North via Syria.
Drug Raid in Yammouneh
The Lebanese Army announced that they raided a Captagon factory in Yammouneh, Beqaa seizing “about 50 million pills and hashish”.
Medical Bills Pricing Increase
The Syndicate of Hospitals in Lebanon has sent a letter to the Association of Insurance Companies proposing an increase of up to 15% on service fees. The head of the Association “rejects” this increase. The syndicate justifies the proposal citing inflation, the removal of subsidies, and “other factors”.