Navigating through political and financial uncertainty has almost become a way of life for the Lebanese economy. From the 15-year civil war that ended in 1990, to the conflict between Hezbollah and Israel in 2006, political wranglings and soaring public debt, Lebanon certainly does not have the smoothest of histories, and 2011 was no different.
The government of prime minister Saad Hariri collapsed in January 2011, leading to a power vacuum until a new cabinet was formed six months later in July. While Lebanon is accustomed to protracted wrangling over new cabinets, the impasse was unusually fraught as it also delayed the reappointment of Riad Salameh to the post of governor of Banque du Liban – Lebanon’s central bank.
