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BEIRUT, LEBANON (MARCH 12, 2020) (REUTERS) VARIOUS OF BEIRUT CITY AS SEEN FROM RIAD SOLH SQUARE VARIOUS OF LEBANESE GOVERNMENT PALACE LEBANESE FLAG ON PALACE (SOUNDBITE) (Arabic) LEBANESE FINANCE MINISTER, GHAZI WAZNI, SAYING: "Lebanon welcomes all international financial assistance without exceptions. But when it comes to the IMF, this depends on several matters: that the understanding with the IMF if Lebanon resorts to it, that it does not affect negatively the political situation in Lebanon. As for the conditions the IMF gives Lebanon they should not have negative implications on the political and social situation in Lebanon. And second, that the Fund's terms do not affect, at the financial level, the suffering or the social situation and livelihood in Lebanon." VARIOUS OF BARBED WIRE NEAR GOVERNMENT BUILDING COMPLEX VARIOUS OF LEBANON'S BANKS ASSOCIATION WHICH WAS RANSACKED BY PROTESTERS A FEW WEEKS EARLIER (SOUNDBITE) (Arabic) LEBANESE FINANCE MINISTER, GHAZI WAZNI, SAYING: "Two conditions. First that this contact (talks) or programme, politically, does not have implications on the social situation internally, there (should) be political understanding on this programme. And second, financially, that the Fund does not impose the traditional conditions that it does, whether that's imposing more taxes or for example at the level of privatisation. The deal will be as follows: Lebanon presents its financial programme, the programme of the Lebanese state and negotiates with the IMF about this programme.'' AL-AMINE MOSQUE VARIOUS OF TRAFFIC PASSING IN FRONT OF THE BLOCKED MARTYRS SQUARE VARIOUS OF INSTALLATIONS BY ARTISTS OF ''REVOLUTION FIST'' AND HEART SHAPED STATUE MADE OF USED TEAR GAS CANISTERS (SOUNDBITE) (Arabic) LEBANESE FINANCE MINISTER, GHAZI WAZNI, SAYING: "We fear that if a flexible monetary policy is adopted without constraints that it would reflect negatively on the parallel market. So we say, currently, we will keep this policy in order not to increase inflation and we consider a flexible policy later on, when the economic and financial situation is stabilised, and when the central bank in the next phase is able to restrain the rhythm of the parallel market." VARIOUS OF CONCRETE WALL BLOCKING AN ENTRANCE TO PARLIAMENT BARBED WIRE ON TOP OF CONCRETE WALL FENCE ON TOP OF CONCRETE WALL VARIOUS OF TRAFFIC PASSING IN FRONT OF A METAL GATE BLOCKING ANOTHER ENTRANCE TO THE PARLIAMENT (SOUNDBITE) (Arabic) LEBANESE FINANCE MINISTER, GHAZI WAZNI, SAYING: (ON WHETHER THE GOVERNMENT WILL KEEP THE DOLLAR PEGGED TO LEBANESE LIRA WHICH IS SET BY CENTRAL BANK AT 1$ TO 1500 LEBANESE LIRAS) "Currently, the central bank does not have the capacity to do so. So we fear that if we raise the official rate from 1,500 to 2,000 that it would immediately reflect on the parallel market to more than 3,000 or 3,500 Liras."
Dateline: 2020

Lebanese Crisis Plan Ready In Weeks, Will Meet Imf Recommendations-Ministe...

Item ID: 127111578

By: Reuters

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