Economic authorities urge the election of a President and the formation of a new government

The economic authorities conducted a comprehensive review of the International Monetary Fund (IMF) report from various aspects and extensively discussed its contents. Based on this, the bodies decided not to rush into giving an opinion on the report.

They formed a committee tasked with conducting an in-depth study of the report and drawing accurate conclusions to be discussed with the IMF.

In another aspect, during a meeting chaired by former Minister Mohammad Choucair, the economic authorities expressed their deep regret over the failure to elect a President after eight months of presidential vacuum due to the conflicts between political forces.

Moreover, the authorities expressed concern about prolonging the vacuum, which would further extend the lethal vacuum in the governance of the Central Bank of Lebanon and paralyze state institutions. They warned that this scenario would undermine whatever remains of Lebanon's capabilities and achievements in the private sector, as well as the international momentum willing to help save the country.

"Today, we are faced with real and promising opportunities to restore the state's credibility and return to the path of recovery and progress. These opportunities include the positive momentum of the Lebanese private sector, the successful summer season, the imminent start of oil and gas exploration in Block 9, the atmosphere of reconciliation and calm in the region, and the international will supporting Lebanon," the economic authorities stated.

They also called on political forces not to waste time and to seize these opportunities by immediately electing a President and forming a new government, whose main tasks would include signing an agreement with the IMF, implementing comprehensive reforms, and approving a reliable, fair, and effective economic and financial rescue and recovery plan.

They expressed great satisfaction with the significant activity in the summer season, which would strengthen the economic situation and various sectors, as well as Lebanese households. They called on everyone, without exception, to create favorable conditions for a beautiful and promising summer season.