0:00 Intro

2:25 Did resignation serve its purpose?

11:34 More dangerous today than 1975?

17:20 Is consensus-driven governance the core problem?

35:35 Is it too late to reform confessional power-sharing?

52:12 What are the conditions today for an IMF deal?

1:06:45 Will you return to your advisory roles?

1:11:05 Memories of My Father

Click to watch:

https://youtu.be/fYOQI_nN09s

We're with Alain Bifani and Henri Chaoul for Episode 192 of The Beirut Banyan.

We put their recent resignations in perspective and discuss whether it served its intended purpose; we discuss the pre-civil war Lebanese state and how the current economic crisis may be more catastrophic than the breakdown that came following April 1975; we talk about confessional power-sharing by looking at the Lebanese state's functionality before the civil war and post-1989, and whether the root cause of systemic mismanagement today is in essence Lebanon's consociational governance or other issues left unaddressed from the early 1970s; we talk about firm preconditions needed before either Alain or Henri consider a return to their advisory roles vis-a-vis IMF negotiations; and we wrap up with Alain reflecting on his friendship and professional relationship with my father while he served as Minister of Finance from July 2008 to November 2009.

Both Alain and Henri share their optimism for the youth and their pessimism towards the current political class largely unwilling to implement needed reforms.

Alain Bifani is the outgoing Director General of the Ministry of Finance. Henri Chaoul is a board member of Kulluna-Irada.

The two Financial Times articles referenced in this episode are

‘Bankers ‘smuggled’ $6bn out of Lebanon, says ex-finance chief’:

https://www.ft.com/content/df234c78-a945-4199-befe-0272259dc755

‘Lebanon finance ministry’s top civil servant steps down’:

https://www.ft.com/content/d4ec9783-b243-4374-b641-f3b4b3a5a588

Help support The Beirut Banyan by contributing via PayPal:

https://www.paypal.me/walkbeirut

Or donating through our Patreon page:

https://www.patreon.com/thebeirutbanyan

Watch these episodes via our YouTube channel:

www.youtube.com/c/thebeirutbanyan

Subscribe to our podcast from your preferred platform.

Follow us on Facebook, Instagram & Twitter:

@thebeirutbanyan

And check out our website:

www.beirutbanyan.com

Music by Marc Codsi. Graphics by Sara Tarhini.