Makhzoumi receives Macron's envoy: Restoring state authority is a financial challenge

MP Fouad Makhzoumi received the special economic envoy of President Emmanuel Macron, Jacques de Lajugie.

He said in a speech: "I was honored to receive the special economic envoy of President Emmanuel Macron, Mr. Jacques de Lajugie, at a reception in my residence, in the presence of His Excellency Ambassador Hervé Magro, representatives of parliamentary blocs, and a number of friends. Welcome to you, and thank you for joining us this evening. We meet today at a precise and difficult moment that Lebanon and our region are going through. The ongoing conflicts and the state of instability surrounding us continue to cast their weight on our country and its people."

Makhzoumi pointed out that "at the same time, we must acknowledge the fundamental truth that cannot be ignored: The issue of Hezbollah's weapons remains the central unresolved issue affecting Lebanon's sovereignty, state authority, and confidence in its future. No sustainable recovery can be fully achieved without a state that exclusively monopolizes the decision of war and peace. It must also be recognized that restoring state authority is not only a security challenge, but also a financial challenge. In recent years, the expansion of the parallel cash economy has weakened state institutions, reduced transparency, facilitated the work of illegal financial networks, and isolated broad sectors of economic activity from the official banking system. Hence, rebuilding a reliable, transparent, and properly regulated banking sector is not just an economic necessity, but constitutes an essential element in restoring state authority and limiting the influence of parallel structures operating outside the framework of public institutions."

He noted that "France has stood by Lebanon for decades, in times of crises and transformations. Your presence today reflects this ongoing commitment and affirms the importance of the partnership between our two countries."

Makhzoumi explained that "our discussion this evening focuses on one of the most important pillars of recovery, which is restructuring the Lebanese financial sector. The existence of a sound, transparent, and adequately capitalized banking system is a fundamental condition for economic growth, investment, reconstruction, job creation, and restoring confidence.

The bank restructuring law and the financial gap law are two essential steps on the path to restoring confidence, defining responsibilities, protecting depositors' rights, enhancing governance and transparency, and laying the foundations for a credible recovery process. These two laws must be enacted in line with the best international standards and practices, also contributing to advancing Lebanon's path towards reaching an agreement with the International Monetary Fund, and most importantly, ensuring their actual implementation to guarantee their credibility and impact."

He stressed that "the challenge we face today is no longer in identifying the required reforms, but in understanding the obstacles that still hinder their enactment and implementation and working to overcome them. This is why our discussion today is particularly important, as we are not meeting only to discuss the content of these reforms, but also to examine the political, institutional, and practical obstacles preventing progress, and how Lebanon and its international partners can cooperate to overcome them."

Makhzoumi added: "Lebanon possesses the human capital, the entrepreneurial spirit, and the resilience necessary to succeed. With the right reforms, responsible leadership, and strong international partnerships, our country can restore confidence, strengthen its institutions, and regain its role as a center for economic opportunity and innovation in the region. Thank you for your friendship, support, and commitment to Lebanon."