Jaber: Lebanon is not asking for charity, but for partnership

Finance Minister Yassin Jaber said Tuesday that "what Lebanon is requesting from the international community is not charity, but a genuine partnership," according to a statement released by his Ministry on Wednesday.

The statement reported remarks he made during a speech at the G-24 ministerial meeting, held on the sidelines of the annual meetings of the International Monetary Fund (IMF) and World Bank (WB), taking place this week in Washington.

"What Lebanon is requesting from the international community is not charity, but a genuine partnership that would restore trust in the state’s institutions and its economy and give people hope for a better future," said Jaber, who also recalled that the cost of Lebanon's latest war, between Hezbollah and Israel, amounts to over $11 billion.

Jaber also submitted a medium-term financial plan to the IMF, marking "a positive step in the negotiation process," according to the Ministry.

Discussions with IMF officials on Tuesday focused on "the restructuring of the banking sector and harmonizing perspectives on the still pending issues between the IMF and the Lebanese state."

According to a source present at the meetings, IMF officials were especially surprised by Central Bank Governor Karim Souhaid’s insistence on Lebanon’s "financial sovereignty," which, in his view, means rejecting any interference by the Fund in its dealings with banks or regarding his dispute with the Finance Ministry on the $16.5 billion debt, which the ministry rejects: "He should first debate and settle this with the Lebanese government rather than here," the source said.

The minister and IMF officials also reviewed "the technical assistance program provided by the Fund to Lebanon," which notably includes tax and customs reforms and measures related to the management of public revenues.

World Bank welcomes ‘reforms,’ EU wants more

As announced the previous day, the WB, which welcomes "the launch of reforms," will send a major delegation to Lebanon at the beginning of November, composed of "10 executive directors," the statement said.

The Lebanese delegation, led by Jaber, also held a meeting with the European Commission, which expressed readiness to increase its aid to Lebanon "provided that a clear program and an agreement with the IMF are concluded."

The main message conveyed by interlocutors was that Lebanon needed to move forward more quickly, despite the difficulties posed by the security context, a source at the scene told L'Orient-Le Jour under condition of anonymity.

On another note, Jaber extended "special thanks to the United States for its unwavering support to the Lebanese Army" during a reception hosted by the Lebanese Embassy in Washington in honor of the Lebanese delegation.

Earlier in October, the U.S. administration approved a package of $230 million for the Lebanese Armed Forces.