
Minister of Finance in the Lebanese caretaker government, Ali Hassan Khalil, said that restructuring the public debt was not on the discussion table, underlining the country’s commitment to preserve the rights of depositors, banks and sovereign bondholders.
His remarks came in response to the controversy that surrounded the announcement of a plan by the government to deal with public debt.
On Sunday, President Michel Aoun chaired a meeting to discuss the financial and economic situation in the country, in the presence of Prime Minister-designate Saad al-Hariri, the finance minister, Minister of Economy and Trade Raed Khoury, the Chairman of the Finance and Budget Committee, MP Ibrahim Kanaan, Central Bank Governor Riad Salameh and the President of the Lebanese Banks Association Joseph Tarabay.
A statement read by Khalil following the meeting stressed that the issue of restructuring the public debt was not on the table of discussion whatsoever at the current stage.
“The Lebanese state is committed to preserving the rights of depositors, banks and sovereign bondholders,” Khalil added.
The minister confirmed that current proposals were focused on “the implementation of the reforms associated with the 2018 budget, on one hand, and the commitments of the Lebanese state made at the Cedre Conference, on the other.”
The statement emphasized in this regard the need to achieve partnership between the public and private sectors, control and rationalize public expenditure, reduce the budget deficit and secure financial balance in the country, in addition to strengthening and diversifying the various productive sectors in Lebanon.