KANAAN SAYS CURRENT MANNER OF NEGOTIATING WITH IMF IS “UNPRODUCTIVE”, DEEMS THE CONTINUED DIFFERENCES IN NUMBERS A “CRIME”

Finance and Budget Parliamentary Committee Head, MP Ibrahim Kanaan, considered Sunday that “negotiating with the International Monetary Fund is unproductive in this way, and keeping the division between the government and the Central Bank of Lebanon at about 100,000 billion LBP and the variation in options is a crime, leading to suicide.”

 

He indicated that the sub-parliamentary committee, under his chairmanship, is carrying out what ought to have been done in the first place, in terms of discussion to bridge the gap and offer acceptable options.

 

Speaking in an interview with LBCI Television Channel this morning, Kanaan said: “The policy of burying heads in the dirt has brought us to our current situation, and it is not possible to continue with two books and two plans, and to deliberate with the international community on one thing while the reality is totally different.”

 

He stressed that “the current stage is for rescue and salvation, and not for the struggle of options and right-and left-winged approaches…The will is required to deal responsibly, away from immaturity, so that we can unify options and numbers.”

 

“The government’s economic and financial plan will determine the fate of Lebanon for fifty years ahead, so we did not raise our hands as a Parliament and say that we are not concerned….but rather we were engaged in seeking to bridge the gap and unify the numbers, especially that the goal is to rescue and not fence between the government and the Central Bank of Lebanon,” Kanaan asserted.

 

“It is true that Lebanon lacks liquidity today, but it has assets of gold, real estate, the Middle East Airlines Company, Casino of Lebanon, and MiG 1 and MiG 2, and therefore, it is not bankrupt…and dealing with the IMF on basis that we are a bankrupt country and pleading for help is an improper approach. Hence, what is required are other proposals, which is what we are seeking in the sub-committee,” the MP maintained.

 

He added: “What was proposed by the government and the banks is not the right solution. Therefore, we need to search for a third option, especially since the logic of what has been drafted is incorrect, and the Parliament is playing a positive role in this regard through the sub-committee.”

 

“In wake of the collapse that has occurred, Lebanon is in need of confidence and regaining the economy’s effectiveness in facing the challenges. It requires trust, because without it, the Lebanese people will not return the money in their homes to the banks, nor will anyone who has money abroad transfer it to Lebanon,” Kanaan emphasized.

 

He added that the banks must be well-aware that the deposits are entrusted money which they must preserve and protect, in order to restore confidence that allows the return of funds that have been withdrawn to homes or are located abroad.

 

“The time is not to score points, but to save the ship and cooperate to rectify its wrong course for which politicians, the Central Bank of Lebanon and the banks are responsible,” Kanaan corroborated.

 

Source: National News Agency

 

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