Middle East News: Gulf countries vow support as Lebanon declares bankruptcy – Gulf Digital News

Middle East News: Gulf countries vow support as Lebanon declares bankruptcy – Gulf Digital News

KUWAIT CITY: GCC countries are to offer support to Lebanon, whose government declared the state and its Central Bank was bankrupt earlier this week.

According to a report yesterday by Kuwaiti newspaper Al Jarida, quoting a diplomatic source, the GCC countries will provide economic aid despite the rift that took place in October last year, when comments made by Lebanese Information Minister George Kordahi criticising the Saudi-led military intervention in Yemen, resulted in Riyadh expelling Lebanon’s ambassador, recalling its own envoy and banning Lebanese imports amid the country’s on-going economic crisis. Similar moves were followed by the UAE, Bahrain and Kuwait in solidarity.

However, the source said that the Gulf states are supporting Lebanon as allowing it to collapse doesn’t serve their interests, but added that any financial support from the Gulf will depend on political developments in the country and the upcoming general elections scheduled next month, according to Middle East Monitor.

The initiative will coincide with the warming of relations between Beirut and the GCC following the return of their ambassadors ahead of the month of Ramadan.

Since arriving in the country, Saudi Ambassador to Beirut Walid Bukhari has set up a Ramadan iftar programme, inviting a number of Lebanese personalities from