Head of the Kataeb’s Economic and Social Council Jean Tawile on Friday stressed the importance to regenerate confidence and carry out an integrated plan so as to unify the exchange rate and to maintain a monetary stability.
“The necessary steps that should be taken are the following: pump US dollars into the local economy so as to maintain a monetary stability, suspend waste caused by subsidies policy, finance the social safety net, refund depositors’ money, allocate the loss, launch a platform that unites exchange rates,” said Tawile in an interview with LBCI channel.
“Lauching a platform that unites the exchange rates was a good idea but its implementation was not as expected, there was a lack of transparency in the cash transactions,” he added.
Tawile deemed Capital Control as necessary, stressing that the deal with the International Monetary Fund and transferring the expats’ money are two major steps that should be taken so as to revive the Lebanese economy.
“The Lebanese officials continue to invest new ways to deepen the country’s quagmire. What we are experiencing today is the outcome of this dreadful ruling elite that has failed to rule this state,” he pointed out.
“We have have two options: Importing fuel from Iran and isolate the country from the Gulf states [that is the case today] or change of power, agreeing with the IMF and carrying out reforms that break this dreadful system,” he emphasized.
“The Lebanese people shoulder the responsibility of change in this country. The upcoming parliamentary elections that will be held in spring 2022 is a big challenge for all the Lebanese citizen,” he added.