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A New Government Gives Lebanon a Reprieve

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The long-suffering people of Lebanon might finally have some good news on the horizon. A new government finally has been formed and, critically, the International Monetary Fund will replenish Lebanon’s nearly empty foreign reserves on Thursday, depositing $1.13 billion in IMF Special Drawing Rights, or SDRs, in Lebanon’s Central Bank. Unfortunately, chances are slim for a wholesale reform of the kleptocracy that has driven the country into economic collapse and political paralysis.

In addition to the cash infusion, the new government will be empowered to negotiate an IMF aid package. That…

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