IMF Confirms Ongoing Intensive Talks to Approve Support for Lebanon

International Monetary Fund (IMF) Managing Director Kristalina Georgieva announced that "intensive talks are underway regarding support for Lebanon, reflecting notable progress toward approving a loan program, while we intend to support Iraq 'strongly' through a requested loan program."

She added at a closing press conference of the IMF and World Bank Annual Meetings in Bangkok: "We will provide Iraq with support in terms of money and policies. As for Lebanon, we are conducting intensive talks with the Lebanese authorities." She continued, saying: "We have made significant progress on the program. There is still some joint work ahead, and I am confident that we will succeed in this matter."

Georgieva added that it is essential for regulators and supervisory bodies to be fully aware of the risks arising from non-bank institutions, cyberattacks, and fraud. She stated that the IMF and World Bank Annual Meetings in Bangkok over the past days were characterized by a mix of optimism and concern.

She continued that "central banks must focus intensively on maintaining price stability, and that IMF members discussed vulnerabilities in economic resilience amid the depletion of energy reserves and financial resources."