Member of the “Strong Republic” bloc, MP Pierre Bou Assi, said: “I do not think that there is a precedent in the world where the state is directed to strengthen the  purchasing power of 3/4 of its people, as the government’s approach to financing the ration card is to enhance the purchasing power of 750,000 Lebanese families.” Adding that the only way to secure such a figure is through the International Monetary Fund.”

As for what programs does Lebanon need before moving ahead with the required loans, Bou Assi said:” there is a program that helps 10 to 15 thousand families, but with the support of the European Union, it now includes 50 thousand people, and there is a possibility that funding will be increased to include 75,000 people, under the supervision of the World Bank and the World Food Organization.”

He added: “there are two projects that can be launched, one of which has stumbled, and the second which is called ESSN, the social and economic safety net, has not yet been launched, where the World Bank allocated a loan of 246 million US dollars, but since Lebanon unilaterally amended the agreement. This loan defaulted.”

Bou Assi pointed out that “the time needed to classify 150,000 families will be too long and might extend for months.” As for what the government requested regarding opening a credit on the 2021 budget and take a dollar advance from the Banque du Liban, he said: “This will inevitably lead to harming the mandatory reserve, and we, as a political team, are clearly against it.”

He concluded, stressing, “the need to focus on these programs and to expedite the formation of a government, negotiate with the International Monetary Fund and spare the mandatory reserves.”