The cliches stack up, but Lebanon really is a one-trick pony

Lebanon's cliches can stack up fast. There is our "solid" banking sector and, more recently, our "booming" property sector. There is our reputation as a "haven" in times of crisis and let's not forget our "talented" human capital, which, at the first opportunity, jumps on a plane and becomes our "hard working" diaspora, without whose remittances the country would collapse. I'm sure you have heard it all before, and, as with many cliches, it's true.

And then, of course, there is the "potential". if Lebanon were a student, her report cards would constantly include "shows promise, but must try harder". But who says potential always has to be realised? The Lebanese were given "God's country", but so far we have blown it.

So you will forgive me if I tell you that I didn't turn cartwheels when I heard that the World Bank has just published a report with the unwieldy title Using Lebanon's Large Capital Inflows to Foster Sustainable Long-Term Growth.

Lebanon and long-term are two terms unlikely to make it into the same sentence, unless they are joined by "instability".

Surely, whatever was going to be said has been said before. And true enough, the report describes an economy defined since the end of the war by substantial inflows of foreign financial resources, a brain drain, a reliance on "low-skilled labour" and an obsession with building housing. So no change there.

Racing through the gears, the paper urges Lebanon to "improve the use of financial resources to promote growth, create jobs, especially for the youth, and develop productive capacities".

It calls on "decision makers" to build an economy based on innovation and diversification to create more jobs to "benefit the country as a whole and bring the society to new levels of development". It points out that banking, commerce, construction and tourism are too narrow in scope to produce jobs for everyone and blames this for the brain drain. The good news is that it's all true. Lebanon is a one-trick pony.

"I know what you are thinking," said a friend who consults for the World Bank and who is blessed with a healthy dose of cynicism. "It's all a waste of time and will just end up in a filing cabinet."

My friend continues: "But I must be honest and tell you that the engagements are normally very fruitful.

"We have excellent dialogue with the ministries and the prime minister's office. But when it comes to implementation, then that is when the gangster element of this country takes over.

"You have some very talented and committed people working in the public sector, but like snakes and ladders, just as we think we are getting somewhere, we always seem to hit that last, very long snake that takes us back to square one."

So that's where we are.

We roll out our highly trained, highly educated, multilingual technocrats, the pick of what's left of our civil service, to interface with the likes of the World Bank and the IMF, only for the recommendations to be ignored by "decision makers".

According to the World Bank website, Riad Salameh, Lebanon's long-serving and often heroic central bank governor, called the document "a valuable support to the government in its effort to adopt the necessary policies for the country".

But the current Lebanese government clearly has much more important matters on its mind.

Michel Aoun is busy feathering his political nest while pretending to represent Christian interests, while Hizbollah is preparing for a post-Assad Syria and the consequences of the Special Tribunal for Lebanon that is investigating the assassination of the former prime minister, Rafiq Hariri.

With all that going on, who's got time for developing "productive capacities"?

Michael Karam is associate editor in chief of Executive, a regional business magazine based in Lebanon

While you're here

Aya Iskandarani: Why debates on sovereignty and neutrality are being had in Lebanon and Iraq

Michael Young: Lebanon's sectarian divides are deep, but most in the country want neutrality

The rules on fostering in the UAE

A foster couple or family must:

be Muslim, Emirati and be residing in the UAE
not be younger than 25 years old
not have been convicted of offences or crimes involving moral turpitude
be free of infectious diseases or psychological and mental disorders
have the ability to support its members and the foster child financially
undertake to treat and raise the child in a proper manner and take care of his or her health and well-being
A single, divorced or widowed Muslim Emirati female, residing in the UAE may apply to foster a child if she is at least 30 years old and able to support the child financially

In numbers: PKK’s money network in Europe

Germany: PKK collectors typically bring in $18 million in cash a year – amount has trebled since 2010

Revolutionary tax: Investigators say about $2 million a year raised from ‘tax collection’ around Marseille

Extortion: Gunman convicted in 2023 of demanding $10,000 from Kurdish businessman in Stockholm

Drug trade: PKK income claimed by Turkish anti-drugs force in 2024 to be as high as $500 million a year

Denmark: PKK one of two terrorist groups along with Iranian separatists ASMLA to raise “two-digit million amounts”

Contributions: Hundreds of euros expected from typical Kurdish families and thousands from business owners

TV channel: Kurdish Roj TV accounts frozen and went bankrupt after Denmark fined it more than $1 million over PKK links in 2013

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2025 Fifa Club World Cup groups

Group A: Palmeiras, Porto, Al Ahly, Inter Miami.

Group B: Paris Saint-Germain, Atletico Madrid, Botafogo, Seattle.

Group C: Bayern Munich, Auckland City, Boca Juniors, Benfica.

Group D: Flamengo, ES Tunis, Chelsea, (Leon banned).

Group E: River Plate, Urawa, Monterrey, Inter Milan.

Group F: Fluminense, Borussia Dortmund, Ulsan, Mamelodi Sundowns.

Group G: Manchester City, Wydad, Al Ain, Juventus.

Group H: Real Madrid, Al Hilal, Pachuca, Salzburg.

On Women's Day

Shelina Janmohamed: Why shouldn't a spouse be compensated fairly for housework?

Samar Elmnhrawy: How companies in the Middle East can catch up on gender equality

The National Editorial: Is there much to celebrate on International Women's Day 2021?

Justin Thomas: Challenge the notion that 'men are from Mars, women are from Venus'

Kalra's feat

Becomes fifth batsman to score century in U19 final
Becomes second Indian to score century in U19 final after Unmukt Chand in 2012
Scored 122 in youth Test on tour of England
Bought by Delhi Daredevils for base price of two million Indian rupees (Dh115,000) in 2018 IPL auction

A MINECRAFT MOVIE

Director: Jared Hess

Starring: Jack Black, Jennifer Coolidge, Jason Momoa

Rating: 3/5

More from UAE Human Development Report:

UAE schools should encourage 'creation and innovation' over curriculums

Life in the UAE among the best in the world, according to the latest human development report

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The burning issue

The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE.

Read part four: an affection for classic cars lives on

Read part three: the age of the electric vehicle begins

Read part two: how climate change drove the race for an alternative

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The specs

Engine: 1.5-litre turbo

Power: 181hp

Torque: 230Nm

Transmission: 6-speed automatic

Starting price: Dh79,000

On sale: Now

APPLE IPAD MINI (A17 PRO)

Display: 21cm Liquid Retina Display, 2266 x 1488, 326ppi, 500 nits

Chip: Apple A17 Pro, 6-core CPU, 5-core GPU, 16-core Neural Engine

Storage: 128/256/512GB

Main camera: 12MP wide, f/1.8, digital zoom up to 5x, Smart HDR 4

Front camera: 12MP ultra-wide, f/2.4, Smart HDR 4, full-HD @ 25/30/60fps

Biometrics: Touch ID, Face ID

Colours: Blue, purple, space grey, starlight

In the box: iPad mini, USB-C cable, 20W USB-C power adapter

Price: From Dh2,099

Korean Film Festival 2019 line-up

Innocent Witness, June 26 at 7pm

On Your Wedding Day, June 27 at 7pm

The Great Battle, June 27 at 9pm

The Witch: Part 1. The Subversion, June 28 at 4pm

Romang, June 28 at 6pm

Mal Mo E: The Secret Mission, June 28 at 8pm

Underdog, June 29 at 2pm

Nearby Sky, June 29 at 4pm

A Resistance, June 29 at 6pm

How to protect yourself when air quality drops

Install an air filter in your home.

Close your windows and turn on the AC.

Shower or bath after being outside.

Wear a face mask.

Stay indoors when conditions are particularly poor.

If driving, turn your engine off when stationary.

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Top financial tips for graduates

Araminta Robertson, of the Financially Mint blog, shares her financial advice for university leavers:

1. Build digital or technical skills: After graduation, people can find it extremely hard to find jobs. From programming to digital marketing, your early twenties are for building skills. Future employers will want people with tech skills.

2. Side hustle: At 16, I lived in a village and started teaching online, as well as doing work as a virtual assistant and marketer. There are six skills you can use online: translation; teaching; programming; digital marketing; design and writing. If you master two, you’ll always be able to make money.

3. Networking: Knowing how to make connections is extremely useful. Use LinkedIn to find people who have the job you want, connect and ask to meet for coffee. Ask how they did it and if they know anyone who can help you. I secured quite a few clients this way.

4. Pay yourself first: The minute you receive any income, put about 15 per cent aside into a savings account you won’t touch, to go towards your emergency fund or to start investing. I do 20 per cent. It helped me start saving immediately.