Pat the lamb dry and season it with salt and pepper. Heat the olive oil in a large Dutch oven over medium-high heat. Brown the lamb in batches until all sides are seared. Remove the lamb and set it aside.
Lower the heat to medium. Add the onion and cook until softened. Stir in the garlic, cumin, cinnamon, ginger, and paprika. Cook for one minute until the spices smell fragrant.
Add the carrots and cook for two minutes. Return the lamb to the pot. Pour in the Merlot and let it simmer for three minutes to reduce slightly.
Add the beef broth and dried apricots. Bring the mixture to a gentle boil, then reduce to low heat. Cover and simmer for 90 minutes, stirring now and then, until the lamb is tender.
Taste and adjust salt and pepper if needed. Sprinkle with chopped cilantro before serving.