A draft of the amended “historic” reform plan was being shared few days ago, but we could not tell if the 52-pages document was the official one. Nevertheless, the government today met and approved the economic and financial reform plan in Baabda.
PM Diab is expected to give a speech later on today, but the real question is: Why didn’t they inform us about this plan before approving? Why not tell people what to expect and what are they planning to do? How can such a plan be approved and called a historic move when no one knows what’s in it? What were the modifications introduced today?
Funnily enough, the biggest problem at hand right now, which is the Lebanese Lira exchange rate, was not finalized yet. All we know about the rescue plan are leaked unofficial documents and information about Lebanon needing $80 billion in funds to exit the crisis, including $10 to $15 billion in external financing in the next five years, and a plan to restructure the public debt.
You can read the full document [here].