Prime Minister Nawaf Salam stated on Friday that “there will be no suppression of bank deposits,” and that he would “cross out the term ‘suppression of deposits,’” in a meeting at the Serail with a delegation from the Council of Lebanese Executives in Saudi Arabia.
He added that his government’s objective is be to “return” the deposits, asserting that “it would not accept anything other than a fair solution for all depositors.”
He also stressed the need to launch the financial reform process by resuming negotiations with the International Monetary Fund (IMF) and preparing the necessary draft legislation, including a new bank secrecy law.
The head of government affirmed that he was in regular contact with the World Bank regarding reconstruction efforts following the recent war between Hezbollah and Israel, aiming to obtain approval for an initial allocation of $250 million and to establish a methodology for this purpose. Salam indicated that a decision on this matter would be made by the institution during a meeting scheduled for late April. It would be followed by a meeting that should bring together the main donors with the goal of raising a billion dollars as a first step, before holding a conference dedicated to reconstruction.
This process should be complemented by internal measures to revitalize the Lebanese Council for Development and Reconstruction. The prime minister stressed that the nomination mechanism adopted by the executive “is the real key to implementing the reforms,” by opening the way to candidacies for the positions of president and members of the Council for Development and Reconstruction.
Regarding the municipal elections scheduled for May 2025, he insisted that “they will be held on schedule” and that his government “is in a position to organize them.”
“Any postponement, even a technical one, is a matter for Parliament and not for the government,” argued Mr. Salam, reaffirming his commitment to “respecting all electoral deadlines.”
The head of government also announced that the Cabinet is “working on a roadmap for Lebanon’s transition to a digital state.” In this regard, the Ministry of State for Information Technology and Artificial Intelligence should soon become a full-fledged Ministry, Mr. Salam revealed in conclusion.
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