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Cabinet Statement: 14/04/2022
Cabinet Statement: 14/04/2022
14/04/2022

Cabinet Statement:

Following the session, Information Minister Ziad Makari read the following statement:

 

“The Council of Ministers held a session at Baabda Palace headed by the President of the Republic, General Michel Aoun, in the presence of the Prime Minister and ministers.

 At the beginning of the session, President Aoun greeted the Lebanese on Easter, wishing for the resurrection of Lebanon in terms of stability, security and a decent life.

 

The President of the Republic spoke about the parliamentary elections and said, "We are a month away from the parliamentary elections and some people are still skeptical about it. I reiterate my affirmation that the elections are taking place on time after the additional appropriations have been approved, and the Minister of Finance should expedite the procedures that lead to transferring funds to the relevant ministries.

 President Aoun referred to the visit of His Holiness Pope Francis to Lebanon, scheduled for next June and highlighting its great national, spiritual and human importance. 

He said: "We will have to finalize the arrangements for this visit in cooperation with the Church Committee that emanates from the Council of Catholic Patriarchs and Bishops, and we will form a national committee to prepare for the visit and develop an executive plan for its completion.

The President of the Republic added: We have before us an agenda full of important items, including items related to food, the provision of wheat and flour, the provision of medicines for incurable and chronic diseases, and items related to the financial crisis in which we are floundering, as we must proceed to speed up the signing of the agreement with the International Monetary Fund.

 

President Aoun said: In addition to the Capital Control Law that was referred to Parliament and the criminal scrutiny that we initiated, quick measures are required to approve important issues before the end of the Parliament’s mandate and the resignation of the government, the most important  are: the bank restructuring strategy that will identify and address losses in the sector, emergency treatment for the   Banking sector, especially the strategy of restructuring banks and launching the process of restoring the financial sector with an externally supported evaluation of each bank separately by signing the terms of reference with a reputable international company, and amending the banking secrecy law to bring it in line with international law and anti-corruption standards and removing obstacles to an effective restructuring of the sector, the banking system and its oversight, the tax administration, the investigation of financial crimes and the recovery of assets, with completing of the audit of the status of the foreign assets of the Banque du Liban to begin improving its transparency, and the adoption of a medium-term strategy to restructure public finances and debts required to restore the ability to bear debt and instill credibility in economic and social policies and reconstruction and approving the 2022 budget and unifying the Central Bank of Lebanon's exchange rates”.​