Lebanon's PM packs cabinet with heavy hitters from business and finance world

Forming an administration is a crucial step before a ceasefire agreement with Israel expires on February 18

Lebanese Prime Minister Nawaf Salam speaks to the press following the formation of the new government at the presidential palace in Baabda, Lebanon, on February 8, 2025. Reuters

Lebanon's Prime Minister Nawaf Salam formed a government on Saturday, ending more than two-and-a-half years of caretaker leadership. The formation of a new government is a crucial step for the country before the expiry of a ceasefire agreement with Israel on February 18.

Mr Salam asserted that no party would have the power to obstruct the government's work. Over the past two decades, Hezbollah and its allies have held enough seats to challenge the cabinet and exert significant influence over decision-making. However, it is unlikely that they retain that influence in the current government, formed under international and regional pressure.

The new Prime Minister has said that the new cabinet, which still needs to be approved by parliament, will not consist of members of political parties, often accused of corruption, insisting instead that it would be a reform government.

But in a country where power is shared according to sectarian quotas, cabinet members were selected after consultations with political leaders.

Key ministers in Lebanon's new government

Deputy Prime Minister: Tarek Mitri

Mr Mitri is the President of Saint George University of Beirut since 2018. He is chairman on the boards of the Institute of Palestine Studies and Nicolas Ibrahim Sursock Museum and is a member of the Arab Centre for Research and Policy Studies.

A former UN envoy to Libya, he served as the special pepresentative of the UN Secretary General (2012- 2014). From 2005 to 2011, he was member of four successive Lebanese governments as minister of environment, administrative reform, culture, information and acting minister of foreign affairs.

Finance Minister: Yassin Jaber

The vital Finance Ministry had been nominated by the Amal Movement, headed by long-time parliamentary speaker Nabih Berri – who Mr Jaber is close to. He is a former economy and transport minister and was previously a lawmaker and part of Mr Berri's Hezbollah-allied Amal bloc, although he is not officially a member of a party.

His naming had been leaked and criticised by some as being beneficial to Mr Berri.

Long dominated by the two Shiite parties, the portfolio will be key at a time when Lebanon needs funding to rebuild after years of an economic crisis and war with Israel.

Economy Minister: Amer Bsat

Mr Bsat is an important figure in a new government that will attempt to pull the country out of one of the world’s worst financial crises.

Mr Bsat, head of emerging markets fixed income at the US investment firm BlackRock, will be among the team tasked with preparing a recovery plan to unlock a stalled $3 billion International Monetary Fund package and oversee financial restructuring.

Foreign Minister: Youssef Rajji

Mr Rajji is a diplomat who built his career within the Ministry of Foreign Affairs before being appointed ambassador to Jordan. He also held other diplomatic posts at the Lebanese missions in South Korea, Morocco and Ivory Coast.

Social Affairs Minister: Hanin Sayyed

She is an economist and author who has worked extensively with the World Bank, including on its response to Lebanon's economic crisis and to the war in neighbouring Syria. Her appointment comes at an important time given the urgent need to unlock financial aid and amid political developments in Syria.

Energy Minister: Joseph Saddi

He holds an MBA from Cornell University in the US and worked in consulting. He was senior partner and chairman of consulting firm Strategy&'s Middle East business and had previously been a chairman of the board at Booz & Company.

His LinkedIn profile says he was based in the UAE and had led privatisation programmes in the energy, mining, and steel sectors and advised Middle East governments on deregulation and policy.

It is the first time in years that the energy minister was not named by the Free Patriotic Movement – a Christian party once close to Hezbollah before relations soured over hostilities with Israel. The party has no ties to the current government.

Environment Minister: Tamara Zein

Ms Zein has been secretary-general of Lebanon's National Council for Scientific Research since 2022. She is vice president of the Lebanese National Commission for UN cultural body Unesco. She holds a doctorate in physical chemistry from France's Universite de Haute-Alsace.