President of the Republic, General Michel Aoun, informed the International Monetary Fund delegation, that “Lebanon has no interest in delaying the completion of the financial and economic recovery plan, which imposes on the official authorities concerned with preparing this plan, to expedite their work because any delay will not be in the interest of Lebanon, especially the financial and banking sector”.

President Aoun’s positions came while meeting an IMF delegation, headed by Mr. Ernesto Rigo Ramirez, this afternoon at the Presidential Palace.

In the meeting, the President asserted that the reforms requested by the international community, both in terms of reforming the tax system to be more fair and efficient, governance and the banking system, and the laws and regulations that sponsor the work of the Banque du Liban, the Banking Control Commission, the Special Investigation Commission and the financial markets, “Require clear and practical decisions because the choice of waiting is costly for the citizen and the state alike”.

The President also stressed that the international community clearly demands that there be credibility in the work of the various Lebanese institutions, as well as the speedy adoption of the 2022 budget bill.

On the other hand, the IMF delegation confirmed that the contacts made by the government still need the expedition of achieving practical results imposed by the accuracy of the economic situation in the country, and to be frank to the Lebanese that any delay will not be in their interest, knowing that what is required at this stage is the approval of a comprehensive economic plan.

The delegation pointed out the need to inform citizens of the reality of losses in the Lebanese financial system, especially the gap in the accounts of the Banque du Liban.

The IMF delegation included: Mr. Robert Tchaidze, Ms. Svetlana Cerovic, Director of the International Monetary Fund’s Lebanon Office, Ms. Najla Nakhle, and from the Executive Director’s Office, Ms. Maya Choueiri.