21 September 2022

Lebanese President Meets IMF Mission Chief

International and Arabic
  • QNA-Lebanon-21-9-2022

Beirut, September 21 (QNA) - Lebanese President Michel Aoun discussed with Mission Chief of the International Monetary Fund (IMF) Ernesto Ramirez before the end of the team's visit to Beirut today, the results of the contacts conducted by the IMF mission with a number of Lebanese officials and the concerned in the financial and banking sectors.
They also reviewed ways to continue the IMF's cooperation with Lebanon and its support in implementing the structural reform program to boost the country's economy.
In a recent statement, the IMF 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 under the April agreement at the expert level is still very slow.
The IMF explained that Lebanon's financial recovery plan must respect the internationally recognized hierarchy of claims, as the country and depositors receive greater protection from the private sector, adding that small depositors in Lebanon must be fully protected and resort to public resources should be reduced.
Lebanon, which has been going through a suffocating economic and financial crisis since 2019, is seeking to obtain a loan worth USD 3 billion over four years after reaching a preliminary agreement on this matter with the IMF last April in exchange for a structural reform plan that includes the financial sector.(QNA)

Keywords

Economy, Arab
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