Deputy Prime Minister Saadeh Al Shami affirmed that he has not given up and will not lose hope of reaching a final agreement with the International Monetary Fund (IMF) until it becomes certain that there is no hope at the end of this long tunnel we are going through.
On Alhurra's channel "Al Mashhad Al Lubnani" program, he indicated that he did not call for the cancellation of deposits and said, "there is a purpose behind those who accuse him of doing so."
Regarding the possibility of not paying the $100,000 to depositors, he said, "if the reserves of the Banque du Liban (BDL) decreases, we cannot return the $100,000. At that point, we will return the maximum we can in dollars and the rest in Lebanese lira at the market exchange rate."
The Deputy Prime Minister affirmed that time is precious, saying, "we cannot delay in implementing reforms."
However, he explained that the recent report issued by the IMF was discussed on June 1 with the Fund's Board, which includes 24 executive directors representing 120 countries worldwide, making its impact significant.
Al Shami saw that the obstruction in implementing reforms primarily comes from the Parliament, specifically the committees, and the BDL, highlighting, "there is a delay by the government in some reforms, to a lesser extent."
In addition, he pointed out that most politicians and MPs confirm that they want an agreement with the IMF, but at the same time, they want an agreement according to their preferences.
The Deputy Prime Minister affirmed that the cost of exchange rate pluralism has become much greater than unifying it, expressing doubts about whether the political class in Lebanon wants an agreement with the IMF or not, stating, "the delay in the Parliament or the BDL indicates a lack of urgency."
He also noted that Lebanon is in danger, but it does not seem that anyone senses this fear to take any step as soon as possible to escape the crisis.
Regarding the parliamentary delegation that visited Washington and met with the IMF, Shami emphasized that they went to make changes to the agreement. Still, they knew that they could not change anything.
As for the required reforms by the IMF, Shami affirmed that a small portion of them has been implemented. At the same time, the more significant part remains, noting that the IMF is not satisfied with amending the banking secrecy law, while capital controls have been discussed in the joint committees for the past three years.
"I am not satisfied with the capital control draft law, and the IMF is not satisfied either," he said.
Regarding the restructuring of banks, he affirmed that an almost complete agreement had been reached on all the items between the IMF, the BDL, and the Banking Control Commission. The new version can be referred to the Parliament, which is an excellent version without any problems, adding, "the old version has not been discussed yet."
Regarding the 2023 budget, Shami confirmed that it is being prepared, and a meeting is supposed to be held on Tuesday with the Finance Minister and the working team, indicating that the budget is supposed to be completed as soon as possible. The delay was due to logistical reasons because the employees were not attending.
"The direction is for everything in the budget to be based on a unified exchange rate, the Sayrafa exchange rate. Therefore, citizens will pay their taxes at the exchange rate. In the 2023 budget, the exchange rate will follow the Sayrafa exchange rate," he continued.
Regarding the post-Riad Salameh phase, he mentioned, "an authentic governor was supposed to be appointed as soon as possible, even without the presence of a president. I expressed my point of view in the Cabinet and the media, but there was some hesitation. If we do not appoint a new governor, it is better for the Deputy Governor, Wassim Mansouri, to take the governor's powers and perform his duties fully. He will issue circulars and work as if the governor is present."
Moreover, Shami affirmed that any new governor should practice pure monetary policy without interference in other matters, and politics should be kept entirely away from any intervention in economic policy, saying, "he should turn off his phone and not answer anyone, and begin a fresh start at the BDL."
Regarding the presidency and the Wednesday session, in response to a question about whether former minister Jihad Azour is a candidate for the IMF, he replied, "the IMF does not nominate anyone. Jihad Azour has a degree of competence and experience to deal with economic and financial issues effectively, and I support the arrival of a competent person to the presidency."