Cabinet Sets Up Virus Fund, Diab Says Measures Result is Good

The Cabinet on Tuesday agreed to set up a special fund for donations aimed at confronting coronavirus, as Prime Minister Hassan Diab said the outcome of the preventative measures has been good.

“Crises cells will be created by municipalities and municipal unions to cater to people’s needs and the Economy Ministry will monitor prices for any hikes and will take the necessary measures,” Information Minister Manal Abdul Samad announced after a Cabinet session.

“PM Hassan Diab stressed that the government is performing its duties as to protecting the Lebanese and is working to limit the spread of coronavirus,” Abdul Samad added.

“He emphasized that the outcome of the measures has been good and that the general mobilization decision has been met with relief and response,” the minister went on to say.

The Cabinet also approved an urgent bill aimed at pardoning convicts who finished their jail terms but are still in prison for failure to pay penalties.

The government was expected to discuss monetary and economic matters during its session, al-Joumhouria daily reported on Tuesday.

Ministerial sources told the daily that ministers would address the issue of Eurobonds after Lebanon's decision to default on their payment.

“Lebanon is negotiating with creditors and the feedback is turning positive,” said the sources, adding “it will have a positive impact on the government’s approach to restructure its debt.”

Earlier in March, Lebanon suspended payment of $1.2 billion in loans, marking the crisis-hit country's first-ever default on its sovereign debt amid ongoing popular unrest.

The default marked a new chapter in Lebanon's economic crisis and could have severe repercussions on country, risking legal action by lenders that could further aggravate and push Lebanon’s economy toward financial collapse.