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Resigned Lebanese Prime Minister Saad Hariri calls for international financial aid. REUTERS / Mohamed Azakir

Lebanese Prime Minister Saad Hariri on Friday (December 6th) called for financial aid from several Arab and Western countries as Lebanon faces an unprecedented political, economic and financial crisis.

With our correspondent in Beirut, Paul Khalifeh

Saad Hariri's call for aid comes as the threat of a shortage of basic necessities hovers over Lebanon, due to lack of liquidity in hard currency and restrictions imposed by banks for the opening of lines import credit. In this context, Lebanon's reserves of wheat, petrol, medical equipment and other imported products are beginning to decline.

Political deadlock and financial crisis

The economic and financial situation already precarious for months has deteriorated significantly with the protest movement, which broke out on October 17th. The country is regularly paralyzed by protests , sectoral strikes and a political stalemate since the resignation of Saad Hariri more than a month ago.

The countries solicited by the resigning prime minister's letter are France, the United States, Russia, China, Saudi Arabia, Egypt and Turkey. Saad Hariri calls for "help from brotherly and friendly countries " to help ease the liquidity shortage and meet the basic import needs of the citizens.

►To read also: [Reportage] The political blockade in Lebanon accentuates the economic crisis

The approach of the outgoing head of government comes as the international support group in Lebanon meets in Paris on December 11, at the initiative of France, to examine ways to help the cedar country to overcome the economic crisis and financial.

A debt of 150% of GDP

Lebanon is crumbling under a debt of more than 86 billion dollars, or 150% of the GDP. According to the World Bank, economic growth is expected to decline by 0.2% in 2019.

In April 2018, the international community pledged at a conference in Paris to provide loans and grants of more than $ 11 billion, in exchange for reforms. But for lack of progress on the reform front because of repeated political blockages in Lebanon, the amounts have never been released.