Financial support from the Washington-based lender will be contingent on Lebanon’s new government committing to economic reforms [Getty]
International Monetary Fund staff will visit Lebanon next week to meet with the country’s new government and begin addressing its economic woes, the Washington-based lender said Thursday.
Speaking to reporters in Washington, IMF communications director Julie Kozack said the 10-14 March “fact-finding” mission to Lebanon would address the country’s economic development, and its reconstruction needs amid a fragile ceasefire between Israel and Hezbollah.
“Beyond this fact-finding mission, as we look ahead, future next steps could include helping the authorities to formulate a comprehensive economic reform program,” she said, alluding to the prospect of a new aide package.
Lebanon’s economy has struggled for years amid accusations of corruption and mismanagement.
The Middle Eastern country’s new prime minister, Nawaf Salam, formed a government last month, ending more than two and a half years of caretaker leadership.
He tapped Yassine Jaber, a former economy and transport minister, to head the finance ministry, an important position as the new administration weighs whether to implement painful economic reforms in exchange for fresh financial support from the IMF.
(AFP)
