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FM: Saudi Arabia wants ‘viable reform plan’ before it supports Lebanon 

Saudi Finance Minister Mohammed Al-Jadaan [ArabianBusiness.com/Twitter]
Saudi Finance Minister Mohammed Al-Jadaan, 20 November 2017 [ArabianBusiness.com/Twitter]

Saudi Finance Minister Mohammed Al-Jadaan said the kingdom wants to see a “viable reform plan” before it provides the necessary economic support to Lebanon.

In an interview with CNBC news, Al-Jadaan said Riyadh has supported Beirut for decades, but it wants to see “a doable and viable reform plan” before the government in Riyadh takes measures to support Beirut’s economy.

Al-Jadaan acknowledged that Lebanon is currently going through the worst economic crisis since the civil war, adding that Lebanon and others should help themselves before seeking help from neighbouring countries.

READ: Debt-ridden Lebanon to invite 8 firms to bid to be financial adviser

Lebanon is currently holding meetings with the International Monetary Fund (IMF) which is expected to provide broad technical advice on how to tackle the country’s crippling financial and economic crisis. The talks were due to end on Sunday but were extended.

Beirut has not requested financial help from the international body.

Categories
IMFInternational OrganisationsLebanonMiddle EastSaudi Arabia
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