During the donors’ conference in support of Lebanon called by French President Emmanuel Macron, International Monetary Fund director Kristalina Georgieva indicated that “the IMF’s vision is in line with the Lebanese people's desire for reform and good governance.”
She emphasized that "the IMF is ready to redouble efforts, but it needs unity of purpose in Lebanon and the determination of all institutions to implement much-needed reforms," noting that "Lebanon is required to make 4 necessary reforms, the first of which is restoring public solvency and the integrity of the financial system, second: temporary guarantees to avoid the continuing exodus of capital, third: taking prior steps to reduce the extended losses in many state-owned companies, and fourth: the need for an expanded social safety net to protect the most vulnerable people."
"Commitment to these reforms will release billions of dollars for the benefit of the Lebanese people," Georgieva stressed, noting that this is the moment in which the country's political decision-makers must act decisively.
For his part, French President Emmanuel Macron affirmed that "the world owes the Lebanese people the support after a massive explosion that destroyed its capital," noting that "we must act quickly and effectively so that the aid goes directly to where it is most needed, as the future of Lebanon is at stake."
Source (Arabic CNBC Website, Edited)
