The Lebanese cabinet on Wednesday completed the formation of a committee tasked to negotiate with the International Monetary Fund (IMF) to unlock billions in aid as the country suffers from a severe economic and financial crisis.
The government also assigned the Finance Minister to borrow $100 million from the Central Bank to require Electricite du Liban (EDL) to secure an increase in feeding hours.
During the cabinet session held at the Baabda Presidential Palace, President Michel Aoun stressed that the government should work seriously and quickly to implement the ministerial policy statement.
Prime Minister Najib Mikati briefed the cabinet on the results of his meeting with French President Emmanuel Macron in Paris.
He said the French President showed remarkable interest in supporting Lebanon, and stressed willingness to help in more than one sector, considering that the real door to salvation is the beginning of negotiations with the IMF.
The cabinet on Wednesday authorized, under Article 52 of the Constitution, the committee to negotiate with the IMF.
The committee is headed by Deputy Prime Minister Saadeh Al-Shami with the membership of Finance Minister Youssef Khalil and Economy Minister Amin Salam, in addition to Central Bank Governor Riad Salameh and two experts representing the President, Charbel Qordahi and Rafik Haddad.
