Presidency denies Reuters news on possible borrowing from IMF to improve state finances

The Presidency of the Lebanese Republic on Friday denied a news item by Reuters which misinterpreted President Michel Aoun’s comments on the sacrifices the Lebanese have to make to help national economy.

“Reuters agency misinterpreted the content of President Michel Aoun’s word during the officers’ graduation ceremony,” the Presidency’s press office said in a statement.

According to Reuters, “Aoun’s comments in a speech marking army day appeared to raise the possibility of Lebanon having to go to the International Monetary Fund (IMF) for help if government reform efforts fail to bring enough improvement to state finances.”

“The Press Office of the Presidency of the Republic utterly denies that the President of the Republic had mentioned in his speech the possibility to go to the IMF for help as said by Reuters,” the presidency’s statement read.

It also warned of circulating “fabricated” news. “What Reuters disseminated wreaked negative reverberations on the Lebanese state’s sovereign bond and on bond insurance cost.”

“The Presidency’s press office reiterates that what the President meant in his speech yesterday was to invite all the Lebanese without exception to make interim sacrifices and to waive some benefits to run the risk of losing them all,” the statement explained.

It added that such measures aim to help withstand the tough economic, financial and social crisis in the country.

Source: National News Agency

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