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Aoun calls on international community to support Lebanon to avoid economic collapse

Lebanese President, Michel Aoun speaks during a ceremony marking the 74th anniversary of the founding of Lebanese Armed Forces at the military academy in Beirut, Lebanon on August 01, 2019 [Presidency of Lebanon / Handout / Anadolu Agency]
Lebanese President, Michel Aoun in Beirut, Lebanon on 1 August 2019 [Presidency of Lebanon/Anadolu Agency]

Lebanese President Michel Aoun on Monday called on the international community to support Lebanon financially to help it overcome the severe economic collapse exacerbated by the coronavirus pandemic.

Aoun said during a meeting with the ambassadors of the International Support Group for Lebanon which includes European and Arab countries that due to the current dangerous financial situation and the major economic repercussions on Lebanese residents and displaced people, Lebanon’s reform program needs external financial support to support the balance of payments and to develop its vital sectors.

German News Agency (DPA) reported Aoun as saying that Lebanon was preparing to launch a workshop to address its economic, financial and social crises when the coronavirus pandemic struck the world and halted the conference preparations.

Aoun added that Lebanon needs the $11 billion pledged by the international community during the Cedar conference held in Paris last year for structural reforms and to reduce the budget deficit.

Meanwhile, Lebanese Prime Minister Hassan Diab explained that the government is preparing an integrated plan that addresses economic, financial, monetary, social and governance reforms.

Aoun: Lebanese economy in recession

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