The International Support Group for Lebanon has informed Prime Minister Hassan Diab of the priorities the new government has to set in preparation for the provision of aid from donor countries and international monetary institutions.
Some of the group’s member-states will have a practical influence on more than one country to provide grants to help resolve the liquidity crisis, or at least to put deposits of about USD 5 billion to achieve a recovery of the value of the Lebanese pound.
Economists say that deposits are better than resorting to the harsh conditions imposed by the World Bank, which are difficult or even impossible for the Lebanese to accept in the midst of the deepening economic crisis.
It is noteworthy that the group’s ambassadors to Lebanon stressed the importance of protecting the right to peaceful protest and the need to maintain internal stability.
In this regard, a minister told Asharq Al-Awsat that the priorities set by the international community “constitute a road map that opens the door for addressing the crisis.”
One of the ambassadors enumerated those priorities, namely: “Combating corruption and tax evasion… and supporting the independence of the judiciary in order to establish transparency and accountability and promote good governance.”
He called for immediate and long-term reforms to stop the deteriorating economic situation, restore monetary balance and financial stability, and address the defects in the Lebanese economy.
