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The International Monetary Fund

Hezbollah okay with IMF loan, but with conditions

Hezbollah does not oppose foreign aid to Lebanon, even from the International Monetary Fund, as long as the help does not impose conditions that harm the national interest, its leader said on Friday.

In a televised speech, Sayyed Hassan Nasrallah said his Shi’ite 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.

“If the conditions do not breach Lebanese sovereignty, or at least do not contradict Lebanese law… Any assistance within logical conditions is possible. There is no problem with this,” Nasrallah said.

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.

Source: Reuters

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One comment

  1. Angel NicGillicuddy

    Your best option
    is to ask President Trump
    to declare Demurrage on The US dollar
    You will see
    so many US dollars surface nearby
    that you’ll have PLENTY
    without even getting a loan from anyone.
    And your economy will get by with lots LESS
    money because it will ALL be circulating,
    none hiding in The Dark Realms.
    You will have lots less trouble.

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