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MP Kanaan discusses with IMF Executive Director ways of cooperation

21-10-2021 | 08:20

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MP Kanaan discusses with IMF Executive Director ways of cooperation

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The Head of Finance and Budget Committee MP Ibrahim Kanaan met with the International Monetary Fund delegation led by the IMF Executive Director Mahmoud Mohieldin on Thursday, whereby they discussed the cooperation between the Parliament and the government, as well as the need of unifying efforts and visions.

This cooperation will aim at reaching an agreement to restructure public debt as well as banks, implementing structural reforms in public finance, specifically in the 2022 Budget, and complete a forensic audit of the Banque du Liban accounts.

Kanaan also pointed out that “the meeting focused in particular the depositors' money, the deduction that affected them, the unification of the exchange rate, the Capital Control Law, and the IMF comments on it,” adding that these headlines were mostly discussed and adopted by the Finance and Budget Committee.

Kanaan concluded by expressing hope that “the government would quickly regain the initiative following the recent events, in order to immediately begin implementing the recovery plan and negotiating on its basis with the IMF, then to reach by the end of the year a preliminary agreement.

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