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and agreed Lebanon with International Monetary Fund He has to implement a list of 10 reforms in order to get $3 billion to stem his financial collapse, which has increased poverty rates in the country.
The Fund said that despite the urgent need to take measures that address the deep economic and social crisis in Lebanon, progress in implementing the reforms agreed upon, under the April agreement, is still "Too slow".
This is the IMF’s first public assessment of Lebanon’s performance in implementing reforms, which include laws on capital controls, banking secrecy, and the 2022 budget.
The Parliament’s General Assembly met last week to discuss the budget, but the session did not take place due to the lack of a quorum after the withdrawal of the deputies.
Discussions will resume on September 26.
The Parliament’s General Assembly in Lebanon is still debating the capital controls law, and amending the banking secrecy law, which it approved in July and was returned to parliamentarians for review.
The International Monetary Fund said that small depositors in Lebanon must be fully protected and recourse to public resources must be limited.
The Lebanese government approved a roadmap for financial recovery in May, but it faces significant objections from banks and the private sector.
After meeting with the International Monetary Fund delegation, on Wednesday, Lebanese President Michel Aoun said, "local actors" They slowed progress toward reform.
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and agreed Lebanon with International Monetary Fund He has to implement a list of 10 reforms in order to get $3 billion to stem his financial collapse, which has increased poverty rates in the country.
The Fund said that despite the urgent need to take measures to address the deep economic and social crisis in Lebanon, progress in implementing the reforms agreed upon, under the April agreement, is still “extremely slow.”
This is the IMF’s first public assessment of Lebanon’s performance in implementing reforms, which include laws on capital controls, banking secrecy, and the 2022 budget.
The Parliament’s General Assembly met last week to discuss the budget, but the session did not take place due to the lack of a quorum after the withdrawal of the deputies.
Discussions will resume on September 26.
The Parliament’s General Assembly in Lebanon is still debating the capital controls law, and amending the banking secrecy law, which it approved in July and was returned to parliamentarians for review.
The International Monetary Fund said that small depositors in Lebanon must be fully protected and recourse to public resources must be limited.
The Lebanese government approved a roadmap for financial recovery in May, but it faces significant objections from banks and the private sector.
After meeting with the International Monetary Fund delegation, on Wednesday, Lebanese President Michel Aoun said that “local actors” have slowed progress towards reform.