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Lebanon's Hezbollah won't oppose IMF aid under 'reasonable conditions': chief

Lebanon's powerful Hezbollah movement, which has strongly opposed foreign interference in the country's crisis-hit economy, said Friday it could accept Beirut receiving an International Monetary Fund financial rescue package under "reasonable conditions".
"Any help within reasonable conditions, there's no problem with it in principle," the Shiite movement's chief Hassan Nasrallah said in a televised address.
But he warned that "Lebanon must not fall under anybody's trusteeship or hand over its financial and economic administration" to outside parties.
One of the most indebted countries in the world, Lebanon has been rocked by a months-long political and financial crisis.
The country's pound has tumbled in value and banks have imposed strict limits on dollar withdrawals amid a strangulating liquidity crunch and mass protests against the political class.
Lebanon said last week it would default on its Eurobond debt for the first time, saying that was the only way to shore up its foreign currency reserves.
Banking experts have called for an IMF rescue package, saying it would secure desperately-needed international assistance and reassure creditors.
But the powerful Shiite movement Hezbollah, which along with its allies holds a majority in parliament, has opposed such moves.
It has rejected conditions and "ready-made recipes" which global bodies could impose, warning against what it called "foreign guardianship" over the economy.
Hezbollah is backed by Iran, whose arch-foe the United States has a virtual veto on IMF decisions.
The IMF on Thursday urged Lebanon to quickly implement reforms to stabilize the economy.
"Given the severity of economic conditions in Lebanon, it's important that the government designs and implements promptly a comprehensive package of reforms to effectively address the economic challenges and improve Lebanon's economic prospects," IMF spokesman Gerry Rice told reporters.
While the country has not requested aid from the Washington-based crisis lender, "We stand ready... to assist the authorities in those efforts."
Lebanon's debt burden is now equivalent to nearly 170 percent of its gross domestic product. levant
Despite a series of crises, the country had never before defaulted, but in recent months it has grappled with its worst economic turmoil since the 1975-1990 civil war.
source: AFP levant
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BENEFIT Sponsors BuildHer...
- April 23, 2025
BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions service, has sponsored the BuildHer CityHack 2025 Hackathon, a two-day event spearheaded by the College of Engineering and Technology at the Royal University for Women (RUW).
Aimed at secondary school students, the event brought together a distinguished group of academic professionals and technology experts to mentor and inspire young participants.
More than 100 high school students from across the Kingdom of Bahrain took part in the hackathon, which featured an intensive programme of training workshops and hands-on sessions. These activities were tailored to enhance participants’ critical thinking, collaborative problem-solving, and team-building capabilities, while also encouraging the development of practical and sustainable solutions to contemporary challenges using modern technological tools.
BENEFIT’s Chief Executive Mr. Abdulwahed AlJanahi, commented: “Our support for this educational hackathon reflects our long-term strategic vision to nurture the talents of emerging national youth and empower the next generation of accomplished female leaders in technology. By fostering creativity and innovation, we aim to contribute meaningfully to Bahrain’s comprehensive development goals and align with the aspirations outlined in the Kingdom’s Vision 2030—an ambition in which BENEFIT plays a central role.”
Professor Riyadh Yousif Hamzah, President of the Royal University for Women, commented: “This initiative reflects our commitment to advancing women in STEM fields. We're cultivating a generation of creative, solution-driven female leaders who will drive national development. Our partnership with BENEFIT exemplifies the powerful synergy between academia and private sector in supporting educational innovation.”
Hanan Abdulla Hasan, Senior Manager, PR & Communication at BENEFIT, said: “We are honoured to collaborate with RUW in supporting this remarkable technology-focused event. It highlights our commitment to social responsibility, and our ongoing efforts to enhance the digital and innovation capabilities of young Bahraini women and foster their ability to harness technological tools in the service of a smarter, more sustainable future.”
For his part, Dr. Humam ElAgha, Acting Dean of the College of Engineering and Technology at the University, said: “BuildHer CityHack 2025 embodies our hands-on approach to education. By tackling real-world problems through creative thinking and sustainable solutions, we're preparing women to thrive in the knowledge economy – a cornerstone of the University's vision.”
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