Lebanese President Confirms Lebanon's Commitment to IMF Reforms

Beirut, June 20 (QNA) - The Lebanese President Michel Aoun underscored his country's commitment to the reforms requested by the International Monetary Fund to further address the economic situation in Lebanon.
A statement of the Lebanese presidency reported that President Michel Aoun, during his meeting with the IMF representative in Beirut Federico Lima, stressed the need for IMF program within the limit of its applicability.
In addition, the IMF representative stressed the need to expedite the adoption of the necessary reform steps, including capital control, banking secrecy, and other measures related to restructuring the banking sector.
In April, the Lebanese authorities reached a preliminary agreement with the IMF on an aid plan worth USD3 billion over four years.
Lebanon is suffering from a severe economic crisis, which the World Bank has ranked among the worst in the current century. Furthermore, In a recent report, the United Nations Economic and Social Commission for Western Asia (ESCWA) revealed the high rate of poverty in Lebanon. (QNA)