Presidency Denies Remarks Attributed to Aoun that Caused Financial Harm

The Presidency on Friday said a media report has “misinterpreted” President Michel Aoun’s latest remarks on the economic situation.

“The Reuters agency has reported remarks misinterpreting the content of President Michel Aoun’s speech at the officer graduation ceremony about the sacrifices that the Lebanese must offer to contribute to the revival of national economy,” the Presidency’s press office said in a statement.

“The Presidency’s press office categorically denies that the president referred in his speech to 'the possibility of having to go to the International Monetary Fund for help if government reform efforts fail to bring enough improvement to state finances,' as mentioned in Reuters' report," it added.

The Presidency also warned against "circulating such fabricated news," noting that the report "created negative repercussions for the Lebanese state's sovereign bonds and their insurance costs."