SIFISO SKENJANA: Lebanon’s power-sharing system echoes ANC’s antigraft failures
Ethnically diverse economies tend to have higher levels of rent-seeking, corruption and mismanagement of public funds
Upon its 1943 independence, the people of Lebanon agreed to a power-sharing system among the three dominant religious groups — Christians, Sunni Muslim and Shia Muslim — for president, prime minister and speaker of parliament respectively.
Some of the main features of the Lebanese economic and political context today include government paralysis and unrelenting corruption, energy supply shortages, a burgeoning public sector wage bill, rising poverty levels and unsustainable government debt that ultimately triggered a financial crisis. On March 9, Lebanon failed to repay its debt obligation on a $1.2bn Eurobond — the country’s first sovereign credit default...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.