Hezbollah not against foreign aid under ‘reasonable conditions,’ says Nasrallah
Lebanon's powerful Hezbollah movement, which has opposed foreign interference in the country's crisis-hit economy, said on Friday it could accept Beirut receiving an International Monetary Fund financial rescue package under ‘reasonable conditions’.
“Any help within reasonable conditions, there's no problem with it in principle,” the Shiite movement's chief Hassan Nasrallah said in a televised address.
But he warned that “Lebanon must not fall under anybody’s trusteeship or hand over its financial and economic administration” to outside parties.
In a televised speech, Sayyed Hassan Nasrallah said his Shiite movement, which backs the government, refused conditions “that would make the country explode”. He said it was against raising the value-added tax (VAT), particularly for the poor.
Lebanon declared last week it could not pay debt maturities as it faces an unprecedented financial crisis that has weakened the local currency, hiked prices and fueled unrest.
Finance Minister Ghazi Wazni told Reuters on Thursday that the country’s crisis plan would meet IMF recommendations and be ready in weeks. Wazni said any recourse to an IMF program must have political agreement and terms that do not cause suffering.
The heavily armed Iran-backed Hezbollah has said it rejects letting the IMF manage Lebanon’s crisis.
Read more:
Lebanon PM Diab says government can’t pay its debt, suspends March bond payment
The Shia crescent is still America’s biggest Middle East challenge
Lebanese crisis plan will meet IMF recommendations: Finance minister
-
Lebanon banks to close on Saturday to sanitize against coronavirus: Statement
Lebanon’s banks will close on Saturday in order to take steps to sanitize branches and prevent the spread of coronavirus, the country’s ... Middle East -
Lebanon announces purchase tender for 180,000 T of diesel oil
Lebanon’s energy ministry has announced a purchase tender for 180,000 tonnes of diesel oil for March 30, a copy of the tender published in ... Energy -
Iraq stops flights to India and Lebanon over coronavirus fears
Iraqi Airlines announced on Thursday it would stop all flights to India and Lebanon over the coronavirus outbreak, the state news agency reported.The ... Middle East -
Lebanon’s wealth destroyed as country defaults on Eurobond
The Lebanese government defaulted on its debt on Monday, failing to make a $1.2 billion Eurobond payment. With no clear restructuring plan in sight, ... Middle East