Economist Marwan Iskandar said, in an interview with “Sky News Arabia”, that the new parliament in Lebanon must first abandon the current government’s plan submitted to the International Monetary Fund, and reformulate a new plan that starts from scratch.
He considered that “the Capital Control Law should not be passed because it ends Lebanon’s role in the region,” stressing the need for the state to bear the losses, not the depositors, calling also for the necessity of privatizing the electricity sector and the port of Tripoli.
The role of the rich
Iskandar called for working on the independence of the judiciary and combating corruption, especially obligating the richest people in Lebanon, 4 of whom were subject to US sanctions, to give up 20% of their wealth to the Lebanese treasury, i.e. $5 billion, an amount that exceeds the expected amount over 4 years from the International Monetary Fund. .
Check all circles
As for the economic expert, Rock Antoine Muhanna, he said in his interview with “Sky News Arabia”, that the priorities of the new Lebanese parliament are to elect a speaker for it, then to form a government of actual specialists and direct with the International Monetary Fund to develop a comprehensive rescue line that includes a criminal audit of all parties to the sector. Banking, ministries and official departments, especially the electricity sector.
Muhanna stressed the need to re-spread confidence to restore stability to the exchange rate of the lira against the dollar, establish a monetary council for a period not exceeding one year, plan to attract hard currency from abroad, establish a parliamentary committee to hold accountable and restructure banks, establish a sovereign fund to manage state assets, and distribute losses gradually starting with the state. The Bank of Lebanon, then the banks, then the big financiers.
set of rules
In turn, the economic expert Jassem Ajaqa said, in an interview with “Sky News Arabia”, that the new parliament should attach importance to negotiations with the International Monetary Fund, in order to get Lebanon out of its crisis and work to decide on laws that constitute priorities, including the Capital Control Law and a plan. Recovery and lifting of banking secrecy in addition to restructuring the banking sector and the public sector and restructuring the public debt, and all these laws must be embodied in the budget.
Ajaqa stressed the need for Parliament to begin meeting and start the reform process, in which Lebanon has been long overdue, while he considered that despite the importance of the independence of the judiciary and the fight against corruption, the priority should be for files related to economic affairs, because the citizen no longer has the ability to bear.
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