IMF Advocates for Unified Reforms to Stimulate Lebanon’s Economic Recovery

The IMF has called on Lebanon to adopt a unified financial reform programme essential for economic recovery. During discussions with President Aoun, the importance of a coordinated strategy with Lebanese institutions was highlighted. Additionally, Hezbollah’s leadership emphasized its commitment to national defense, reflecting ongoing regional tensions.

The International Monetary Fund (IMF) has urged Lebanon to implement a unified financial reform programme to enhance economic recovery and restore investor confidence. This recommendation was presented during a meeting between Ernesto Ramirez Rigo, head of the IMF mission, and Lebanese President Joseph Aoun at Baabda Palace in Beirut. Rigo emphasized that a coordinated plan, developed in collaboration with Lebanese institutions and the IMF, is essential for accelerating Lebanon’s economic recovery.

President Aoun expressed gratitude to the IMF for its support and reiterated Lebanon’s commitment to undertaking crucial reforms, labeling them as a national priority rather than solely an international obligation. In April 2022, the IMF had reached a staff-level agreement to provide Lebanon with 3 billion US dollars through a 46-month financing programme, contingent upon the government enacting a series of reform measures.

In a separate political context, Hezbollah’s Secretary General, Naim Qassem, reaffirmed their stance against any Israeli presence in southern Lebanon, underscoring the organization’s ongoing commitment to Lebanon’s defense. During a televised interview, he stated that Israel must retreat beyond the Litani River, per the ceasefire agreement, and highlighted the numerous violations committed by Israel in recent months. Qassem also emphasized Hezbollah’s dedication to maintaining national stability and governance while asserting the necessity of their arms for confronting threats from Israel, which he described as an existential danger.

In summary, the IMF has called for comprehensive financial reforms in Lebanon to facilitate economic recovery and boost investor confidence, emphasizing the need for a coordinated strategy. The Lebanese government, led by President Aoun, has pledged to prioritize these reforms. Concurrently, Hezbollah remains steadfast in its defense posture against Israel, underlining both the complexity of Lebanon’s domestic challenges and the regional security dynamics.

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