Caretaker Prime Minister, Najib Mikati, on Monday morning presided over a meeting at the Serail that included Caretaker Finance Minister, Youssef Khalil, Caretaker Minister of Energy and Water, Walid Fayad, Acting Governor of the Lebanese Central Bank, Wassim Mansouri, and Director-General of Lebanon’s Ministry of Finance, George Andari.
The session primarily focused on the state of public finances and the electricity sector.
In the wake of the meeting, Minister Fayad said, “We’ve addressed the value of the required credit for the execution of the third contract with Iraq in its third year, which amounts to one and a half million tons annually. The required credit amount is $700 million, and there are adjustments needed to reach this amount. This is essential for us to be able to import fuel shipments from Iraq to Lebanon.
Fayad further added, “The second issue relates to the due amounts and the mechanism that will be adopted with the Finance Ministry to place funds in the Iraqi account. We have agreed on
a formula to cover the due amounts for previous shipments, which is crucial to maintain a direct relationship regarding the implementation of the agreement with Iraq.’
Source: National News Agency – Lebanon