Naharnet

Aoun Says Govt. Formation Helps Unlock CEDRE Funds

President Michel Aoun on Friday said that the stern financial measures taken in the country are "temporary because of the current financial conditions."

Aoun, who spoke during a meeting with international investment bankers, said that dealing with the economic and financial crisis will be the priority of the new government once it's formed.

He added that offshore exploration for oil and gas will begin in January and would boost the country's credentials.

Aoun has called for binding consultations with heads of parliamentary blocs to name a new prime minister on Monday.

He added that the formation of a new Cabinet would help friendly countries release $11 billion in loans and grants made by international donors at the CEDRE conference in Paris last year.

Source: Associated Press


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