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President Aoun: The financial situation is very critical

04-03-2022 | 12:09

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President Aoun: The financial situation is very critical

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President Michel Aoun underlined on Friday the need to take quick measures to ensure food security for the Lebanese people, after the military developments between Russia and Ukraine, as well as the need to confront high prices and prevent monopoly.

He said at the beginning of the cabinet session that “the International Monetary Fund delegation highlighted the need to approve the recovery plan as soon as possible, provided that the plan includes restructuring the Banque du Liban, restructuring banks, unifying the exchange rate, distributing losses as well as necessary structural financial reforms, and a plan for the Social Safety Net.”

“The IMF delegation also stressed the need to provide political consensus to approve the recovery plan,” he stated.

The president then indicated that “the financial situation is very critical, and cannot tolerate any delay.”

Aoun also called for paying attention to the situation of the Lebanese in Ukraine.

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