NNA - Former Minister Raed Khoury visited the United States of America, where he met in Washington with officials in the US administration and executives at the International Monetary Fund and the World Bank who follow the Lebanese file.

Khoury revealed that it was emphasized in all discussions with the US officials that "the rights of depositors must be sacred in any plan they are working on with the Lebanese government, for it is not their fault to pay the price for wrong economic or financial policies."

He added, "We detected that they [US administration] are not pleased with the progress on the level of reforms they requested, as progress is very slow, but they are still persevering and insisting on cooperation and progress if the Lebanese state responds to them."

"The IMF and the World Bank look positively on the process of extracting oil and gas from the Sea of Lebanon, but at the same time they do not see this as a salvation for Lebanon, for without reforms, even with exploration, there will be no solution," Khoury underscored.

He concluded by reiterating the US administration offcials' strong conviction that there is no room for Lebanon's rescue except through implementing the required and necessary reforms, even if there is hope for gas and oil.

==========R/Sh.