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Finance Minister Ghazi Wazni emphasized that the Lebanese government’s success in implementing the required reforms is the key to getting out of the financial and economic crisis, and this will not happen without the support of the political forces for this process.
In a dialogue with “Al-Sharq Al-Awsat”, my weight considered that the financial recovery plan prepared by the government gives credibility when dealing with international institutions, and opened the horizon in relation to the “Cedar” conference and funds and global banks that closed their doors to Lebanon, indicating that the program is adjustable according to the course of negotiations. With the International Monetary Fund. With his optimism about the path of the plan, my weight emphasized that the steps of the reform should constitute a fundamental strength factor because the international community expresses its willingness to support, but requires the initiation of reforms and achieving it will be a positive message for the.
In light of the crises that the Lebanese are undergoing, my weight drew attention to the affinity of the Ministry of Finance to ensure the salaries of employees and workers in the public sector, and to ensure all matters related to health, social conditions and poverty, ensuring that the available reserves are sufficient to finance basic products for current and future years.
Regarding the relationship with the Banque du Liban, my weight said: “Trust is fully present and my relationship with the bank is good. There are questions about the central bank numbers and the issue of transfers in the last period. to the contrary, the government’s relationship with the Banque du Liban is normal and there is no problem in it. The government appointed three companies to audit their budget in the framework of the restructuring of the financial sector, which includes the Bank of Lebanon and the Bank System.
He added: “One of the proposals in the plan is to grant 5 new licenses to banks with two objectives, first, that each bank bring capital of $ 200 million of fresh money, half from the outside and the other half from the inside. And secondly, that these banks will not need to be restructured because they are new, and their budgets are solid and give them direct confidence. “
And on the dollar exchange rate, which is experiencing unprecedented chaos, my peso indicated that, according to the plan, the current exchange rate should continue at £ 1515 for various reasons, the first of which is that consumption of Households are distributed between 60% at the parallel exchange rate of the dollar and 40% at the official exchange rate of the lira, and the liberalization of the exchange causes the prices of raw materials to rise Too big and crazy.
In the next stage, we will move to flexible exchange rate policy, that is, gradual liberalization when we have defense assets that we are looking to acquire after agreeing with the IMF and the return of the flow of remittances from abroad and transferring aid. to the Cedar Conference. Therefore, we have regained confidence and the flexible price is strengthened with new strong currency inflows.
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