Comments this week from the leader of Hezobllah, Hassan Nasrallah, suggest that the Lebanese government is becoming increasingly disillusioned with talks with the IMF and is looking at alternative sources of financing. But this will prove difficult to acquire and, in the meantime, the country's economic crisis is deepening. Elsewhere, talks between Egypt and Ethiopia over the Grand Ethiopian Renaissance Dam have reportedly broken down, raising the prospect of war. Finally, the authorities in Saudi Arabia are considering suspending the Hajj pilgrimage this year – the first time it will have been cancelled since the 10th century – which will add to the headwinds facing the economic recovery.
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