IMF Demands Acceleration of Structural Reforms Before Signing Financial Support Agreement

The International Monetary Fund (IMF) announced yesterday its intention to dispatch an official mission to Lebanon during the upcoming month of November to continue discussions on ways to support the Lebanese economy and move towards a support program agreement, according to Reuters.

Athanasios Vamvakidis, Deputy Director for the Middle East and Central Asia Department at the Fund, stated: "The recent talks held in Bangkok between IMF officials and Lebanese authorities were good and productive," confirming "continued intensive communication in the coming weeks in preparation for the visit."

The discussions focused on "restructuring the banking sector, restoring Lebanese confidence in the financial system, and establishing mechanisms to return public debt to a sustainable path."

The Fund emphasized that "reaching an agreement requires accelerating structural reforms, most notably bringing the law addressing bank situations into force, enacting legislation to address the financial gap according to international standards, alongside preparing the 2027 budget and a medium-term fiscal framework."