Can Lebanon’s new government revive the economy?

Can Lebanon’s new government revive the economy?

BEIRUT - After three months of political paralysis, Lebanon has formed a government under Prime Minister Hassan Diab.. By taking deposits from Lebanon's millions of scattered diaspora and snapping up the government's local debt, banks helped prop up the state's finances but that system has broken as foreign deposits dried up in the face of a collapse in confidence in the banking system.. Some financial experts say banks will require a deeper injection of cash than the 20% of capital they've been told by the central bank to raise.. Lebanon needs a $20 billion-$25 billion bailout including International Monetary Fund (IMF) support to emerge from its financial crisis, former Economy Minister Nasser Saidi said..