Hezbollah says Lebanon will 'not submit' to IMF over debt management

Hezbollah says Lebanon will 'not submit' to IMF over debt management
1 min read
26 February, 2020
Hezbollah, which backs the new Lebanon government, has rejected the prospect of IMF aid.
Hezbollah said it does not accept "submitting" to the IMF [Getty]
Hezbollah on Tuesday expressed opposition to the International Monetary Fund's (IMF) involvement in Lebanon's financial crisis, according to a Reuters report.

An IMF delegation met Lebanese Prime Minister Hassan Diab in Beirut last week to discuss the country's spiralling economic crisis, with the Hezbollah-backed government insisting it is seeking IMF "technical aid", but not financial assistance.

"We will not accept submitting to (imperialist) tools ... meaning we do not accept submitting to the International Monetary Fund to manage the crisis," said Hezbollah deputy leader Sheikh Naim Qassem, according to Reuters.

"Yes, there is nothing to prevent consultation... and this is what the Lebanese government is doing."

The Iran-backed, armed Shia movement is one of the main parties that supports Lebanon's new government.

Lebanon's debt levels remains among the highest in the world. A liquidity crunch brought the crisis to a head, with banks imposing tough restrictions on dollar withdrawals.

The Lebanese pound, which has been pegged to the dollar since 1997, has plummeted, bringing further woes for the import-dependent economy.

The economic crisis has triggered widespread protests since last year.

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