Lebanon and IMF from Washington: Toward Resuming Negotiations and Reform Agreement

Prime Minister Nawaf Salam and Finance Minister Yassin Jaber discussed the course of negotiations between Lebanon and the International Monetary Fund (IMF), as well as the reform steps being implemented by Lebanon to make progress toward reaching an agreement, with IMF Managing Director Kristalina Georgieva at the Fund's headquarters in Washington.

The meeting was attended by Lebanon's Ambassador to the United States, Nada Hamadeh. The discussion covered the progress achieved in implementing financial and banking reforms, alongside the measures and legislation required to complete the negotiation track.

The two sides agreed that an IMF delegation would visit Lebanon after the annual meetings of the IMF and World Bank, aiming to resume negotiations and continue discussions on outstanding files, leading to progress toward an agreement between the parties.

Salam affirmed the government's commitment to continuing the reform path and completing the necessary legislation and measures to address financial and banking imbalances, stressing its readiness to cooperate with the Parliament to finalize the approval of the financial gap law, following the passage of the banking sector restructuring law.

The Prime Minister also emphasized the government's determination to continue working on controlling public finances, enhancing governance and transparency, and completing the necessary reforms to rebuild a sound banking sector and restore confidence in the Lebanese economy.

For her part, Georgieva congratulated the Lebanese government on the progress it had made in the reform process, noting its performance in managing public finances and preparing the budget, as well as the steps taken in the file of restructuring the banking sector and strengthening fiscal discipline.

The IMF Managing Director confirmed the Fund's readiness to continue working closely with the Lebanese government and building on what has been achieved, contributing to moving the negotiations forward.

Both sides stressed the importance of accelerating steps during the next phase, aiming to reach an agreement that lays the foundations for financial and economic recovery and contributes to restoring confidence in the Lebanese economy.