Beirut (agencies)
The International Monetary Fund delegation has come a long way on the road to establishing an economic and financial recovery plan in Lebanon, informed sources said yesterday.
The delegation, which is visiting Lebanon, held a meeting with economic bodies, within the framework of the consultations it is trying with a number of sectors, on the sidelines of the negotiations taking place in Beirut with the official authorities, in an effort to reach a framework agreement before the parliamentary elections, after which the government’s role will be limited to discharging Business.
Economic circles accompanying the IMF delegation’s meetings yesterday said that Lebanon must achieve five vital things, in order to obtain approval that would pave the way for providing it with funds, which are the approval of the Capital Control Bill, the development of an economic recovery plan, the approval of the draft general budget, and the amendment of the law Banking secrecy and restructuring the banking sector.
She pointed out that the financial assistance from the Fund will come, if the final agreement is reached, in several stages and not once, so that each payment will be linked to the achievement of part of the agreed upon reforms.
She pointed out that the delegation had come a long way on the road to establishing an economic and financial recovery plan, without reaching a final formula yet.