Saudi Arabia’s ambassador to Beirut Walid Al-Bukhari discussed with the International Monetary Fund (IMF) delegation the necessary conditions for Lebanon's economic recovery.
Al-Bukhari met with the visiting IMF delegation, headed by Ernesto Ramirez Rigo, on Wednesday at his residence in Yarzeh, east of Beirut.
Talks during the meeting touched on the overall developments in Lebanon and the region, the conditions for recovery that the country needs to overcome its political and economic crisis, as well as other issues of common concern.
The delegation met earlier with the chairman of the Finance and Budget Committee in the Lebanese Parliament, MP Ibrahim Kanaan, and the head of the Administration and Justice Committee, MP George Adwan. Discussions focused on the financial and economic situation and the path towards the agreement with the IMF.
In comments following the meeting, Kanaan said: “The two sides agreed on the need to elect a president for the republic as a starting point for restructuring the institutions and producing a homogeneous government team that has a clear road map for financial and economic rescue and implementation of the required reforms.”
He continued: “It is not only related to passing laws to launch the agreement with the IMF, but, more importantly, the possibility of respecting and implementing them to restore local and international confidence, and thus investments.”
In this regard, Kanaan pointed to the need to adopt a different approach and a new monetary policy within the government and the Banque du Liban, stressing the importance of an independent judiciary that “exercises its role in the event of any discrepancy in government work and the Lebanese administration.”