"...In a similar crisis, a decision maker is needed."
Mikati: If Lebanon reaches a complete collapse, it will be a bomb that will shock the entire Middle East
28 July 2021
(See Translation in Arabic Section)
Lebanon - Prime Minister-designate Najib Mikati warned of the "repercussions of Lebanon's collapse," saying: "If Lebanon reaches a complete collapse, this will be a bomb that will shock the entire Middle East."
Three days after his assignment to form the government, Mikati explained to the American “Bloomberg” agency that he “will not be able to put out the fire,” and said, “But I will prevent its spread, and I hope to do so in the first 100 days in office.”
In confirmation of his previous statements, Mikati stressed that he "has the necessary international support from the European Union, especially France," and said, "I am confident that the United States will be open to providing support as well," this is in addition to US aid to the army, as the agency noted.
In light of the intensification of the crisis, Mikati considered that "the future Minister of Finance should be able to communicate with the International Monetary Fund and potential partners abroad and deal with the Central Bank."
Mikati indicated his "intention to play a major role at the level of financial decision-making," speaking of his "experience in the world of finance and business," and said: "I will express my opinion on all decisions related to financial and economic affairs."
"In a similar crisis, a decision maker is needed," he added.
Regarding the decision to default on the “Eurobonds” issues and not pay the dues (the volume of all the Lebanese state’s issuance of these bonds is estimated at $31.1 billion), Mikati indicated that he would “negotiate with creditors to reschedule and refinance the debt, rather than default.” He said: “The decision to default has harmed the country and the banks that put their money in “Eurobonds”, treasury bonds and deposits in the Central Bank.”
Considering that "the default occurred," he said: "We want to work on how to resolve this issue."
Today, Mikati expressed his "hope to form a government in the near future," noting that he "felt acceptance by President Michel Aoun of his proposals regarding the government formation."
After meeting Aoun, Mikati said: "I gave my suggestions, and most of them were accepted by His Excellency the President. At the same time, all the remarks of His Excellency the President are accepted. We are seeking, and God willing, we can reach a government in the near future."