Elias Bou Saab discusses reform laws and IMF agreement with Ernesto Ramirez Rigo and delegation

Deputy Speaker of the Lebanese Parliament Elias Bou Saab welcomed the head of the International Monetary Fund (IMF) mission, Ernesto Ramirez Rigo, and his accompanying delegation at his office.

The delegation included the IMF representative in Lebanon, Federico Lima; senior financial sector expert Jaime Pons; first advisor to the executive director for Lebanon, Maya Choueiri; economist Hanin Al-Fakih; and economist Rita Achkar.

They discussed the obstacles hindering the conclusion of an agreement with the IMF and the approval of reform laws, specifically the banking secrecy law, the law for restructuring banks, and the law to address the financial gap.

Bou Saab expressed his conviction about the necessity of approving all the reform laws, starting with the banking secrecy law, followed by the law for restructuring banks and the law to address the financial gap, with the condition of protecting the rightful deposits of depositors.

He also informed them that Parliament Speaker Nabih Berri had referred the banking secrecy law to the joint committees and scheduled a session to discuss it next Wednesday.

On the other hand, Ernesto Ramirez Rigo emphasized that Lebanon cannot afford to delay the approval of these laws, as donor countries, who are crucial for Lebanon’s aid and reconstruction, require an agreement with the IMF.