IMF Sets Conditions for Lebanon
The International Monetary Fund has clarified that Lebanon needs to implement essential reforms in the banking sector and the economy in order to negotiate a new funding program with it. These reforms include introducing a law to address the banking sector’s conditions, enacting legislation to bridge the financial gap according to international standards, and preparing the 2027 budget along with a medium-term financial framework to ensure debt sustainability. Despite Lebanon signing a preliminary agreement with the IMF in April 2022 and passing a law to restructure the banking sector, the referral of this law to the Constitutional Council has raised concerns about the country backing away from this legislation, which threatens the possibility of securing IMF support.
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