Hizbullah Rejects IMF 'Management' of Lebanese Crisis

W460

Hizbullah deputy Secretary General Sheikh Naim Qassem said his party rejects allowing the International Monetary Fund to manage the financial crisis in Lebanon, indicating rejection of any IMF loan that would impose harsh conditions on heavily indebted country.

“We will not succumb to arrogant means to address the crisis...we will not let the IMF manage the crisis,” said Qassem, but added that Hizbullah does not oppose Lebanon seeking the IMF’s advice.

“Yes, we do not mind consultations (with the IMF), this is what the Lebanese government is doing,” he added.

An International Monetary Fund delegation began meetings last week in Lebanon to provide advice on dealing with the crippling economic and financial crisis amid concerns the country might default on its Eurobond debt payment for the first time.

Lebanon on Tuesday agreed to appoint Cleary Gottlieb Steen & Hamilton LLP as a legal adviser on the country's Eurobond debt that stands at more than $87 billion or more than 150% of the GDP.

Lebanon is experiencing its worst economic and financial crisis since the end of the 1975-90 civil war. The situation deteriorated after nationwide protests broke out in mid-October against the ruling elite blamed for decades of corruption and mismanagement.

SourceNaharnet
Comments 6
Thumb warrior 26 February 2020, 11:01

Hezbollah's stance above confirms what the whole world already knew: Hezbollah is the main sponsor and godfather of all evil and corruption in Lebanon.

Missing peace 26 February 2020, 19:12

sure, it means they would have to fight efficiently the corruption! bad for their business!

Thumb galaxy 26 February 2020, 12:20

Filthy iranian terrorists

Thumb s.o.s 26 February 2020, 14:44

Hizbala rejects controlling the ports , airports and borders because that’s how it steals .
Yet, the smuggled goods should be taxed and capitals controlled.

Missing samiam 26 February 2020, 14:46

kizb are doing so good in offering advice on the problem, just not very constructive. They are against the IMF management, but they don't offer any solutions of their own.

we could go the china route again lol.

Thumb whyaskwhy 26 February 2020, 23:59

Kizb's management of Lebanon has been much more efficient....in sending the nation down the drain.