Financial crisis

Newly-assigned Lebanese Prime Minister, Hassan Diab, speaks to journalists after his meeting with Lebanese President Michel Aoun at the presidential palace, in Baabda, east of Beirut, Lebanon, Thursday, Dec. 19, 2019. Aoun named Diab as prime minister after a day of consultations with lawmakers in which he gained a simple majority of the 128-member parliament. Sixty-nine lawmakers, including the parliamentary bloc of the Shiite Hezbollah and Amal movements as well as lawmakers affiliated with President Michel Aoun gave him their votes. (AP Photo/Hussein Malla)
December 19, 2019 - 11:50 am
BEIRUT (AP) — Lebanon's president Thursday asked a university professor and former education minister supported by the militant Hezbollah group to form a new government, breaking a weeks-long impasse amid nationwide mass protests against the country's political elite. But prime minister-designate...
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An anti-government protester gives flowers to the riot police, during ongoing protests against the ruling elite of corruption and financial crisis, in downtown Beirut, Lebanon, Wednesday, Dec. 18, 2019. Lebanon's caretaker prime minister said Wednesday he's no longer a candidate for the post, eliminating himself from consideration on the eve of scheduled consultations between the president and parliamentary blocs for naming a new premier. (AP Photo/Hussein Malla)
December 18, 2019 - 11:36 am
BEIRUT (AP) — Lebanon's caretaker prime minister said Wednesday he's no longer a candidate for the post, eliminating himself from consideration with no clear alternative on the eve of scheduled consultations between the president and parliamentary blocs for naming a new premier. The move by Saad...
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In this July 10, 2019 photo, David Osorio, member of the Caracas FC fan club, sings and plays a drum before a Copa Sudamerica soccer match between his team and Ecuador's Independiente del Valle at Estadio Olímpico in Caracas, Venezuela. When the Caracas Football Club plays, its supporters leave their ideological preferences and socioeconomic differences behind, joining together to support and take care of each other inside and outside the stadium. (AP Photo/Matias Delacroix)
December 17, 2019 - 9:13 am
Venezuela is the only South American country where baseball and not soccer is the No. 1 sport. Still, a group of fans calling themselves the “Red Demons" has dedicated 30 years to an undying passion for the Caracas Football Club. Even amid Venezuela's grinding economic and political crisis, the...
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Anti-government protesters clash with the riot police, during a protest near the parliament square, in downtown Beirut, Lebanon, Sunday, Dec. 15, 2019. Lebanese security forces fired tear gas, rubber bullets and water cannons Sunday to disperse hundreds of protesters for a second straight day, ending what started as a peaceful rally in defiance of the toughest crackdown on anti-government demonstrations in two months. (AP Photo/Hussein Malla)
December 16, 2019 - 4:11 pm
BEIRUT (AP) — Supporters of Lebanon's two main Shiite groups Hezbollah and Amal clashed with security forces and set fires to cars in the capital early Tuesday, apparently angered by a video circulating online that showed a man insulting Shiite figures. Police used tear gas and water cannons trying...
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FILE - In this Wednesday, Sept. 4, 2019 file photo, incoming President of the European Central Bank Christine Lagarde speaks to the European Parliament's Economic and Monetary Affairs Committee in Brussels. Newly appointed European Central Bank head Christine Lagarde makes her first official assessment Thursday, Dec. 12, 2019 of the mixed bag that is the eurozone economy, which suffers from slowing manufacturing and global trade even as consumer spending helps prop up growth. (AP Photo/Francisco Seco, File)
December 12, 2019 - 9:04 am
FRANKFURT, Germany (AP) — Christine Lagarde is wasting no time in putting her stamp on the European Central Bank. The bank's new president said at her first news conference Thursday that she will lead a top to bottom review of how the institution sets monetary policy, looking at everything from how...
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December 12, 2019 - 5:35 am
ANKARA, Turkey (AP) — A former Turkish prime minister established a new political party on Thursday, in a move that represents a challenge to President Recep Tayyip Erdogan's ruling party. Ahmet Davutoglu submitted a formal application to register his breakaway “Future Party" with the Interior...
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Lebanese protesters gather outside of the French foreign ministry in Paris, Wednesday, Dec. 11, 2019, to denounce a closed-door meeting of diplomats from several countries on aid to Lebanon. The Middle Eastern country is facing a political and economic crisis, and the international group is discussing conditions for global assistance to help ease Lebanon's financial woes.(AP Photo/Francois Mori)
December 11, 2019 - 12:48 pm
PARIS (AP) — Lebanon cannot expect to receive international aid for its battered economy until a new government undertakes serious reforms, diplomats decided at a closed-door meeting in Paris on Wednesday. The international group, led by France and the United Nations, met to discuss conditions for...
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FILE - In this April 7, 2016, file photo Federal Reserve chair Janet Yellen, left, and former Federal Reserve chairs Ben Bernanke, center, and Paul Volcker, right, react as they listen to former Fed Chair Alan Greenspan appearing via video conference, during a panel discussion in New York. Volcker, the former Federal Reserve chairman died on Sunday, Dec. 8, 2019, according to his office, He was 92. (AP Photo/Kathy Willens, File)
December 09, 2019 - 7:33 am
Paul Volcker, who as Federal Reserve chairman in the early 1980s elevated interest rates to historic highs and triggered a recession as the price of quashing double-digit inflation, has died, according to his office. He was 92. Volcker took charge of the Fed in August 1979, when the U.S. economy...
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Iranian President Hassan Rouhani speaks while submitting next year's budget bill to the parliament in Tehran, Iran, Sunday, Dec. 8, 2019. Rouhani said his country will depend less on oil revenue next year, in a new budget that is designed to resist crippling U.S. trade embargoes. (AP Photo/Vahid Salemi)
December 08, 2019 - 3:36 am
TEHRAN, Iran (AP) — Iran's president said on Sunday his country will depend less on oil revenue next year, in a new budget that is designed to resist crippling U.S. trade embargoes. Iran is in the grip of an economic crisis. The U.S. re-imposed sanctions that block Iran from selling its crude oil...
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A woman uses ATM outside a bank, as a Lebanese policeman stands guard, in Beirut, Lebanon, Wednesday, Nov. 20, 2019. Lebanon’s worsening financial crisis has thrown businesses and households into disarray. Banks are severely limiting withdrawals of hard currency, and Lebanese say they don’t know how they’ll pay everything from tuitions to insurance and loans all made in dollars. Politicians are paralyzed, struggling to form a new government in the face of tens of thousands of protesters in the streets for the past month demanding the entire leadership go. (AP Photo/Bilal Hussein)
December 04, 2019 - 8:27 am
BEIRUT (AP) — Lebanon’s central bank on Wednesday dramatically lowered interest rates on dollar and Lebanese pound deposits and loans — the latest measure to shore up the country’s banking system amid a burgeoning economic crisis. Banque de Liban also announced that for the next six months it would...
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