The International Monetary Fund (IMF) and the government of Lebanon have started the preparatory technical discussions on the former's support program, IMF spokesperson Gerry Rice told reporters on Thursday
WASHINGTON (Pakistan Point News / Sputnik - 04th November, 2021) The International Monetary Fund (IMF) and the government of Lebanon have started the preparatory technical discussions on the former's support program, IMF spokesperson Gerry Rice told reporters on Thursday.
"The IMF has received a letter from Prime Minister Najib Mikati, expressing the authorities' interest in a Fund program. Preparatory technical discussions have started," Rice said during a virtual press briefing.
The IMF spokesperson pointed out that the Lebanese government has to implement significant reforms and policies in order to address the country's economic and social crisis.
"We are engaging in some of those policies and reforms to address macroeconomic stability and lay the ground for sustainable and inclusive recovery," Rice said.
On September 10, a new government was announced in Lebanon when Mikati and President Michel Aoun signed a decree putting an end to the political deadlock in the country.
Mikati promised to carry out effective reforms, help the country recover from the financial crisis and regain the confidence of the IMF to unlock billions of Dollars in aid. With parliamentary elections soon, the Mikati cabinet has just several months left to gain the IMF support for the country's economic recovery plan.
