Lebanese Republic 
Minister of Economy and Trade at the US capital
Washington, D.C
Minister of Economy and Trade Amin Salam started his meetings in the morning at the US capital Washington, D.C with the following Officials of the US administration, especially the US Department of Treasury, to keep up-to-date on the latest developments related to supporting Lebanon on the economic and social levels within the continuous challenges that the Lebanese people and Government face due to the ongoing aggression as well as to shed the light on the possible recovery strategies during the post war phase: the Deputy Assistant Secretary for Africa and the Middle East at the U.S. Department of the Treasury, Eric Meyer ; and the Deputy Assistant Secretary of the Treasury for Asia and the Middle East in the Office of Terrorist Financing and Financial Crimes (TFFC), Jesse Baker. Discussions tackled the path of reform in Lebanon and the importance of the decision taken by the Ministry of Economy and Trade consisting in the dollarization of the Lebanese market, which contributed in the currency exchange rate stability period hovering around 89.500 LBP / US dollars since the half of 2023 in addition to the importance of the discontinuation of “Sayrafa” platform and the restrictions that were imposed by the Banque du Liban on the budget funding; the thing that caused to increase the Central Bank’ reserves by the amount of 546 million dollars during the first five months of 2024 to reach 10.2 billion dollars.
Moreover, Minister Salam discussed with the Officials of the US Department of Treasury the reasons for the delay of the Lebanese government to achieve the required reforms and means of processing the Lebanese banking sector with the coordination of the US Department of Treasury whereof the two concerned Officials of the Ministry expressed their willingness to cooperate on supporting the Lebanese State and people once the constitutional institutions work is reorganized through development and motivational programs to bring back the financial cycle into its constructive activity.
The meeting also included discussions and exchange of views regarding the repercussions of Lebanon being placed on the “grey list” before holding the International Conference in Support of Lebanon's People and Sovereignty which will be held in the French capital Paris, after two days, on the 24th of the current month; headed by the French President Emmanuel Macron, during which Minister Salam wished to defer this act, contributing to the Conference’ success in order to get Lebanon’s back to the hope’ track and emerge from the crisis.
In addition, Minister Salam agreed with the US Department of Treasury on joint bilateral cooperation among the ministries to protect the interest of the companies, public and private institutions as well as the Lebanese Government’ work. They also agreed on developing the financial system, guarantee its proper functioning and ensure the protection of the financial sector, including the insurance, financial and banking companies, in terms of exchanging expertise and information regarding the efforts exerted to reduce risks of the illicit financing.
