The World Bank revealed that despite early warnings, Lebanon wasted valuable time, and many opportunities to adopt the path of reforming its economic and financial system, and Lebanon has not yet begun, after two and a half years, to implement a comprehensive program for reform and recovery, to prevents the country from slipping further into a sinking situation, and the continued deliberate delay in addressing the causes of the crisis, poses a threat not only at the social and economic level but also the danger of a systematic failure of state institutions and exposing the fragile social peace to more pressures.
According to a report prepared by the Board of Executive Directors of the World Bank Group to review the performance and lessons learned for the strategic partnership for Lebanon, which was prepared by Saroj Kumar Jha, Regional Director of the Mashreq Department at the World Bank, and approved by the Board, the costs of inaction are enormous, not only for the daily lives of the citizens, but also for the future of the Lebanese people. The report set an opportunity for Lebanon until the fiscal year 2023 to implement reforms to enhance social and economic recovery programs, badly needed, targeting the poor and the most vulnerable, and supporting the path of macroeconomic and structural reforms that have become necessary to save the country.
Source (Emirati Gulf Newspaper, Edited)
