Lebanon Deliberates Banking Reforms

Lebanese Finance Minister Yasin Jaber clarified that Lebanon is facing a valuable opportunity to strengthen its economic stability, based on the international interest he observed during the IMF and World Bank meetings in Bangkok. He emphasized that taking advantage of this opportunity requires completing reforms, especially in the banking sector and passing the Financial Gap Law. He pointed out that discussions with the IMF are ongoing weekly with the aim of reaching full understanding on the reform measures. He also confirmed the importance of the banks' role in restoring their core functions, and the need for cooperation between the government and parliament to ensure the implementation of reforms. He reminded that the relationship with the World Bank is excellent, and that projects related to funding and implementation are being monitored transparently. Meanwhile, regional projects aimed at enhancing communication and development are receiving international attention, particularly from the World Bank Group. The minister stressed the necessity of continuing efforts to achieve security and economic stability alongside efforts to develop the banking sector and activate its role, with the goal of restoring economic growth and seizing available opportunities.

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