The National Bloc: Call for a Comprehensive and Radical Reform to Prevent Economic Collapse

With the Financial Action Task Force (FATF) placing Lebanon on the "grey list", we warn against the risks threatening our already fragile economy, especially as this move adds further pressure and increases the transaction costs that citizens will ultimately bear. Responsibility for this setback lies with the authorities who have failed to adhere to international transparency standards and to effectively combat corruption, particularly with an expanding shadow economy draining the country’s resources.

The recent statements made by the Acting Governor of the Central Bank, Wassim Mansouri, did not provide sufficient reassurance to mitigate the impact of these sanctions, as international confidence in Lebanon's financial sector continues to decline. We stress that partial solutions are no longer enough and that a comprehensive legislative reform must be launched, focusing on combating corruption, enhancing financial transparency, and implementing legal reforms to dismantle the shadow economy.

We call for immediate reform measures, not only to prevent Lebanon from staying on the "grey list" but to avoid potential blacklisting and protect Lebanon from international financial isolation, cover the costs of war, rebuild the country, and restore confidence in its financial sector and institutions.
We emphasize once again that the real solution to our accumulating crises lies in electing a President to restore regular function to state institutions, and reaching an immediate ceasefire based on international legitimacy resolutions.