“Emphasis was placed on adopting and implementing the comprehensive integrated plan based on financial, administrative, and banking reforms,” he added.
In conclusion, the official explained that the reforms would “coincide with an economic and social recovery plan, as contained in the ministerial statement.”
مدير عام رئاسة الجمهورية بعد الاجتماع المالي الاقتصادي في بعبدا: تم التركيز على اعتماد وتنفيذ الخطة الشاملة المتكاملة المبنية على اصلاحات مالية وادارية ومصرفية تتزامن معها خطة نهوض اقتصادية واجتماعية كما وردت في البيان الوزاري
Naturally, it cannot be said with any certainty that Lebanon is defaulting on its repayment yet. It will be clear when PM Hassan Diab announces the official decision in his scheduled speech later on Saturday.
Nonetheless, especially after Choucair’s latest remarks, it strongly appears to be the more likely option.
If Lebanon is indeed headed to defaulting on its debts for the first time in its history, its reputation – and thus its economy – will suffer a serious blow.