The meeting of the International Support Group (ISG) for Lebanon was held on Wednesday 11 in France. The ISG’s aim was to find solutions to maintain Lebanon’s stability, unity, and integrity. The meeting yielded the following:
The group expressed its concerns about the financial crisis that is going to lead Lebanon into further economic chaos and instability.
They stated that in order to stop this economic deterioration and restore confidence, “it is necessary to adopt a basket of sustainable and reliable reforms to meet the long-term challenges in the Lebanese economy.”
On top of that, they stressed that it is important that there is an “immediate formation of a government with the capacity and credibility to carry out economic reforms, and to keep Lebanon on tension and regional crises.”
They continued saying that the Lebanese authorities should hasten the approval of the budget for the year 2020 in the first weeks after the formation of the new government.
This, in their opinion, will improve the public budget and preserve the social security of the Lebanese people.
Other suggestions included the restoration of stability to the monetary sector, fighting corruption, an electricity reform plan, and passing laws that help in this.
In their opinion, the new government must take measures to establish a stable economic system, and the members of the group renew the findings of the Cedar Conference.
Jean-Yves Le Drian, the French Foreign Minister, declared that “any financial assistance from the international community requires the country to form a reform government.”
He continued saying, “The only criterion should be the effectiveness of this government and only then will the participants in this meeting mobilize to give Lebanon all the support that it needs.”
After the meeting, caretaker Prime Minister Saad Hariri thanked France and the UN for the International Support Group meeting held for Lebanon, as well as those who participated.
In his statement, he believes that, in order to get out of the crisis, it requires “expediting the formation of a government of specialists that constitutes a homogeneous and credible working group that is qualified to provide answers to the aspirations of the Lebanese after October 17.”
أتوجه بالشكر لفرنسا والأمم المتحدة على دعوتهما مجموعة الدعم الدولية للبنان للاجتماع في #باريس اليوم، كما لكل أصدقاء #لبنان وأشقائه وممثلي المؤسسات الدولية الذين شاركوا في الاجتماع وعبروا عن حرصهم على مساعدة لبنان للخروج من الأزمة الاقتصادية الحادة التي يواجهها. (١/٣)
— Saad Hariri (@saadhariri) December 11, 2019
He added that there should be preparations for a rescue plan at all levels: economic, social, financial, and production.
He finally stated that the implementation of this plan requires the full support of friends of Lebanon from the international community, and from international financial institutions and Arab funds.
٢- إعداد خطة إنقاذية على الصعد الاقتصادية والاجتماعية والنقدية والمالية والانتاجية.
٣- تطبيق هذه الخطة بالدعم الكامل من اشقاء لبنان وأصدقائه في المجتمع الدولي، ومن المؤسسات المالية الدولية، والصناديق العربية. (٣/٣)— Saad Hariri (@saadhariri) December 11, 2019
