Lebanon’s President Calls for Confidence Restoration in Cabinet Meeting

Lebanese President Joseph Aoun emphasized the necessity of restoring confidence in Lebanon during a Cabinet meeting. Key points included the approval of the 2025 state budget, establishment of a committee to address IMF recommendations, and the importance of economic reforms. He also noted regional security measures and announced the release of five Lebanese prisoners detained by Israel.

In a recent Cabinet meeting, Lebanese President Joseph Aoun highlighted the importance of restoring both internal and external confidence in Lebanon. He began the session by announcing that the 2025 state budget had been finalized during a prior meeting. Aoun has tasked the Finance Minister with overseeing government expenditures in alignment with Article 118 of the Public Accounting Law, requiring a quarterly report on spending.

President Aoun also briefed the ministers on his discussions with an International Monetary Fund (IMF) delegation. He announced the creation of a committee, led by the Finance Minister and including key figures such as the Economy Minister and the acting Banque du Liban (BDL) governor, to ensure the implementation of significant IMF recommendations.

The IMF delegation stressed the urgent necessity for Lebanon to establish a program with the fund by summer, following earlier unsuccessful attempts. President Aoun emphasized that revitalizing internal and external confidence hinges on comprehensive reforms within the economic, financial, and banking sectors.

Additionally, the delegation pointed out the need to appoint a new governor for the BDL, create a centralized data center for the Finance Ministry, and enact critical legislation to amend the banking secrecy and bank restructuring laws.

Regarding regional security, President Aoun assured that security agencies and relevant ministries are closely monitoring the situation in Syria to maintain preparedness. He also announced the release of five Lebanese prisoners detained by Israel during recent conflicts, attributing their return to indirect negotiation efforts.

In summary, President Joseph Aoun’s statements during the Cabinet meeting underscore the urgent need for Lebanon to restore confidence through economic reforms and address pressing recommendations from the IMF. The formation of a dedicated committee signifies a proactive approach to implementing necessary changes and ensuring Lebanon’s preparedness within the regional security context.

Original Source: www.lbcgroup.tv