Daily Times

Lebanese Prime Minister Najib Mikati warned Friday that his caretaker government is “running out of capabilities” to keep the public institutions running.

Mikati made the remarks in a cabinet statement after the parliament failed to convene on Thursday to pass essential laws due to the lack of a quorum resulting from disagreement on necessary reform measures.

“The parliament is not convening at a time when the country has reached a very difficult and dangerous stage,” said the statement.

“We are meeting continuously to ensure the continuity of institutions, but it’s been a year since we were in a caretaking mode; this was unexpected, and our capabilities are running out,” Mikati said during a cabinet meeting, according to a statement

Mikati emphasized the importance of holding parliament meetings to discuss all proposals and draft laws related to the economic recovery plan, bank restructuring, financial gap, and capital control.

Lebanon has been facing an unprecedented financial crisis, while the current caretaker cabinet has limited powers to implement structural reforms and unlock aid from the International Monetary Fund.

Lebanon’s crisis started in 2019 after it defaulted on its sovereign bonds due to the shortage of foreign reserves and lost billions of dollars in deposits.