Lebanon has formed a new government primarily composed of appointees endorsed by Hezbollah-aligned parties and oligarchs. This new cabinet has already met with continued protester strife, and its chances of triggering regional and international backing on the back of a commitment to reform, are limited.
Despite geopolitical tensions in the region, Saudi Arabia issued USD 5B in bonds that were four-times oversubscribed, signalling investor confidence.
Forming a government in Tunisia remains elusive with the potential for parliament to dissolve if new Prime Minister Fakhfakh’s Cabinet is not approved. Continued delays in government formation are stalling progress on addressing the national debt.
China is expanding its investments in phosphates in North Africa with a deal between Wengfu Group and Egypt's Phosphate Misr as well as a potential agreement to explore reserves in Tunisia under discussion.
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