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Lebanon: Dissociation Policy Reinforces International Support for Economy

Lebanon: Dissociation Policy Reinforces International Support for Economy

Sunday, 22 September, 2019 - 12:00
French President Emmanuel Macron (R) shakes hands with Lebanese Prime Minister Saad Hariri during the Cedar (CEDRE) Conference for international donors and investors to support Lebanon's economy, in Paris, France, April 6, 2018. Ludovic Marin/Pool via Reuters/File Photo

The CEDRE Conference follow-up committee will convene in Paris in November to launch the implementation of development projects worth $1.4 billion to help Lebanon overcome its economic and financial crisis.

Ministerial sources told Asharq al-Awsat that the meeting of the strategic body would be held in the presence of Prime Minister Saad Hariri and French ministers and representatives of the countries and financial institutions participating in the CEDRE Conference.

Hariri has recently met with French President Emmanuel Macron and senior French officials in Paris to discuss the implementation of reforms by the Lebanese government.

The sources noted that the government would accelerate the completion of financial and administrative reforms and would seek to adopt the State Budget within the constitutional deadlines, within an attempt reduce the budget deficit and the public debt service.

The ministerial sources stressed, however, that the international support to Lebanon mainly depended on the country’s commitment to its dissociation policy, which meant staying away from regional conflicts and wars.

They emphasized that abandoning the policy of dissociation would drag the country into chaos, not only at the security level, but also with regards to the political and economic situation. The sources also noted that maintaining the dissociation policy required all parties to adopt moderate political rhetoric.

The ministerial sources also talked about optimism over a recent statement by Saudi Finance Minister Mohammed al-Jadaan about an imminent dialogue with the Lebanese government to provide financial support to the country.

They added that Hariri was personally conducting talks with the Saudi side to coordinate the holding of a meeting of the joint Saudi-Lebanese Economic Committee in Riyadh next month.

According to the sources, the meeting will witness the signing of bilateral agreements and the announcement of important economic steps to support monetary stability in Lebanon.

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