The Consumer Association issued the following statement:
On Thursday, Lebanon will receive $1.135 billion from the IMF. Simultaneously, the Minister of Finance emphasized the need of transparency!
What is Yousef Al-Khalil going to do with this cash? Either it continues to subsidize importers and dealers, or it implements a new economic policy based on investments in agriculture, industry, and technology, as well as a tiny portion of transparent support for impoverished families’ consumption.
This investment will help Lebanese production capacities that have been underutilized throughout the country’s history. Thousands of work chances will be available to young people wandering in the streets and in front of embassies. In terms of consumption, more than six billion dollars go into the bags outside of the broken and corrupt banking system.
This is the kind of openness that could salvage the country.