Lebanon’s Speaker Nabih Berri declared on Tuesday that a potential government haircut was “dead,” saying it has met the same fate of a plan on capital control.
“You can read the fatiha (Qoranic verse) on the suggested haircut as you have done on the capital control proposal,” Berri said after chairing the meeting of the Parliament’s Secretariat at his Ain al-Tineh residence.
Berri stressed that Lebanon’s economic and financial salvation is still possible, though difficult.
Asked about reforms, Berri’s visitors quoted him as saying that there was a need to address the causes and consequences of the economic and financial crisis.
The Speaker also emphasized the need for reforms and law enforcement, especially in corruption cases, including the squandering of public funds.
He also stressed that new laws should not tamper with the money of bank depositors, which is a sacred matter.
“We need measures that can help jumpstart the economy and restructure national debt,” he said, adding that the government should take steps capable of convincing the international community to provide financial assistance to Lebanon.
Political sources told Asharq Al-Awsat on Tuesday that Berri is optimistic about an International Monetary Fund proposal on Lebanon’s economic crisis.
“The Speaker has been informed that the IMF would be lenient with its proposals,” they said.
Also Tuesday, Berri met with Finance Minister Ghazi Wazni. They discussed the country’s economic and financial situation.
