Minister of State for Investment and Technology, Adel Afiouni, said during an intervention during the Council of Ministers’ session on Tuesday that Lebanon must cement its credibility before international markets, bodies, and funds.
Commenting on the way financial markets have been dealing with the state’s achievements to date, the Minister said that it was clear that no significant improvement had been witnessed at the level of Lebanese bond prices.
“The expected decline in interest rates has not yet been achieved despite the fact that we have adopted a series of important decisions such as the electricity plan and the draft budget. These are positive and promising steps that will give momentum to the Lebanese bond markets,” Afiouni explained.
He concluded from the aforementioned analysis that the markets were watching cautiously, whilst some institutions questioned the state’s ability to implement.
“Therefore, we must address this skepticism and prove to markets, investors, depositors, international bodies and funds our credibility. We must regain their confidence and demonstrate our determination to implement what we have committed to by implementing the plans we have launched,” the Minister added.
“This is done by communicating with investors, as well as international bodies and funds, and by explaining the government's plan of action to emphasize the seriousness of our commitment to what we have agreed upon. We also have to present our next reform plans,” Afiouni explained.
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