The International Monetary Fund revealed that the Lebanese economy is still suffering from severe pressure due to the continuous stalemate in the much-needed economic reforms and the high uncertainty. The Fund indicated that Lebanon's progress in implementing the reforms approved by the International Monetary Fund is progressing at a very slow pace.
The IMF demanded that prior procedures be completed for the IMF board of directors to study Lebanon's request for a financial program. The fund called for the need to unify the exchange rate and expedite the preparation of the draft budget for 2023 after approving the budget for the current year.
The International Monetary Fund expressed its desire to continue cooperation and support with Lebanon, surprising the ambiguity that prevailed at the level of the executive and legislative authorities in terms of carrying out the necessary reforms to advance the Lebanese economy, especially since every delay leads to Lebanon losing time and results.
The International Monetary Fund delegation stressed, during its meeting with Lebanese President Michel Aoun, the need to restore confidence in the financial and banking sector represented by the Banque du Liban and banks, indicating that the large losses in the Lebanese banking sector must be recognized and addressed in advance.
Source (Al-Arabiya.net Website, Edited)
