A delegation from RDCL visited the acting Governor of BDL Dr. Wassim Mansouri, expressing the support of the legal privatesector and addressed him with an open letter:

1. RDCL commends on the decision that Governor Mansouri made & which adopts a new transparent method. RDCL requests to share any needed information to complete the financial audit.
2. RDCL admires the Governor’s stance on refusing to finance the state & his readiness to cooperate with government & parliament, to enact the laws for the implementation of an IMF program & restructuring of the financial system.
3. RDCL believes that reaching a deal with IMF is key to achieving economic & financial stability, & to implement necessary reforms. RDCL stands by the governor’s side and asks him not to succumb to political pressures.
4. RDCL objects financing the government before the implementation of reforms & the adoption of a program with IMF.
5. The crisis is a chance to push forward for the implementation of the reforms, especially those related to good governance of public institutions & the public sector’s size that has paralyzed the economy & state finances.
6. Cash economy is growing & illegal financial institutions are present all over the territory. RDCL is worried about the negative repercussions of it on the economy.
7. No economy can function without a legal banking sector. To restructure it, enacting comprehensive laws is needed. A quick & effective solution must be adopted for the deposits issue.
8. RDCL was surprised of Article 7 of the draft of the capital control law submitted to parliament, mandating to make local transactions in LBP only. This will have catastrophic consequences on the economy.
9. RDCL prepared a law, in collaboration with the legal private sector, to ensure any new financing or contractual obligation is settled in the same currency and value at the time of repayment.
10. RDCL calls for the swift election of a president, the formation of a government and the nomination of a BDL governor. All them should be dedicated to implement a comprehensive reform program for the country.