Lebanon is ready for financial support from Russia that would help to recover the country's national economy which was impacted by the Syrian refugee crisis and the ongoing COVID-19 pandemic, President Michel Aoun has told Sputnik, adding that Beirut hoped that Moscow would soon declare its position on the matter
MOSCOW (Pakistan Point News / Sputnik - 04th May, 2020) Lebanon is ready for financial support from Russia that would help to recover the country's national economy which was impacted by the Syrian refugee crisis and the ongoing COVID-19 pandemic, President Michel Aoun has told Sputnik, adding that Beirut hoped that Moscow would soon declare its position on the matter.
"We fully understand that Lebanon needs support from its allies and friends at the stage of the recovery [of the country's economy]. Everyone is awaiting [the implementation] of the government's plan. Russia, as a great country and Lebanon's historical friend, can participate in a lot of initiatives to support the revival plan approved by the council of ministers," Aoun said, adding that Lebanon was ready for any help from Russia be it deposits or loans.
According to the president, Beirut's channels of cooperation with Moscow were open, and Russian officials were fully aware of difficulties Lebanon was facing.
"I am sure that they [Russia] will soon make an appropriate decision related to the assistance to Lebanon," Aoun said.
The presence of Syrian refugees and the worldwide coronavirus pandemic are among key factors that affected the country's economy and worsened it, according to him.
"We have gone through decades of wrong economic policies, which were accompanied by corruption at the level of authorities, weak management and loss of public confidence in the government," Aoun said.
Lebanon has long been suffering from an acute economic crisis, with its national Currency plunging against the Dollar and causing prices of bread and other necessities to soar. This prompted nationwide protests in October that unseated the previous government. No particular relief followed as the COVID-19 outbreak added to economic woes by putting businesses on hold and people out of jobs.
On Thursday, the Lebanese authorities endorsed an economic plan to put the country back on track toward "real reforms" and tackle the worsening financial crisis accompanied by nationwide anti-government protests that the country has been facing since October.�
