BEIRUT, Lebanon, April 24 (NNN-NNA) – Prime Minister, Saad Hariri, urged all political parties to continue the reform process and fight against corruption to save Lebanon’s economy.<\/p>\n\n\n\n
“All political parties are aware that we have reached a point where we should implement reforms,” Hariri said, during the Arab Banking Conference for 2019.<\/p>\n\n\n\n
The event, which was organised by the Union of Arab Banks, tackled topics related to economic reforms and the importance of fighting against corruption.<\/p>\n\n\n\n
Hariri said, the government should not seek support from banks unless it achieves all its duties, which include strict financial and economic reforms.<\/p>\n\n\n\n
Lebanese banks are highly exposed to local debt and eurobonds.<\/p>\n\n\n\n
Moreover, local economists have been calling on banks to support the government, by buying the state’s eurobonds at zero percent interest rate for a few years, to reduce the budget deficit.<\/p>\n\n\n\n
However, bankers refuted this idea, while calling upon the government to make necessary reforms to save money.<\/p>\n\n\n\n
“We are sure that the government will succeed in implementing its financial reforms, and the strategy to fight against corruption, in a bid to save Lebanon from financial and economic crises,” said Joseph Torbey, head of the Association of Banks in Lebanon.<\/p>\n\n\n\n
Torbey emphasised the need to restructure the public sector and reduce its spending, while stopping money squandering and maintaining a serious approach to the fight against corruption.– NNN-NNA <\/p>\n","protected":false},"excerpt":{"rendered":"
BEIRUT, Lebanon, April 24 (NNN-NNA) – Prime Minister, Saad Hariri, urged all political parties to continue the reform process and fight against corruption to save Lebanon’s economy. “All political parties are aware that we have reached a point where we should implement reforms,” Hariri said, during the Arab Banking Conference for 2019. The event, which […]<\/p>\n","protected":false},"author":10,"featured_media":21775,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[300,217],"tags":[],"_links":{"self":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/posts\/21772"}],"collection":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=21772"}],"version-history":[{"count":0,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/posts\/21772\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/media\/21775"}],"wp:attachment":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=21772"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=21772"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=21772"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}