French Diplomat Says CEDRE 'Still Stands'

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Pierre Duquesne, the French inter-ministerial delegate for the Mediterranean, stressed on Tuesday that the projects and reforms approved at CEDRE conference in Paris still stand, but that Lebanon needs to implement a series of reforms to convince the international community.

“A series of reforms were suggested at CEDRE related to the public sector, the customs, and tax evasion. These issues must be discussed by the Lebanese Cabinet in the next few weeks,” Duquesne said in remarks to reporters after holding talks with Finance Minister Ali Hassan Khalil.

“We discussed the 2020 state budget which must be approved within constitutional deadlines, not in 2020. This is mandatory not for the international community but for Lebanon’s interest. CEDRE still stands. There is no reason why it should not. We are committed to an investment program,” he added.

However, the French diplomat stressed the need to expedite the approval of Lebanon’s 2020 state budget.

“Speed is required in approving the 2020 budget and there are decisions that must be taken quickly to convince the international community and the Lebanese,” he concluded.

Donors at the so-called CEDRE conference last year in Paris pledged $11 billion in aid and soft loans to Lebanon, which has promised to reduce its public spending including on electricity.

Concerns emerged that Lebanon risks losing these loans if it fails to address its economic crisis mainly after Fitch Ratings downgraded Lebanon.

SourceNaharnet