Lebanon’s Government to Negotiate New Program with IMF
Lebanon’s government has declared its intention to negotiate a new program with the International Monetary Fund (IMF) in a statement approved during the recent ministerial meeting. This move comes as part of broader efforts to tackle the country’s severe financial and public debt crisis.
According to a copy of the statement viewed by Reuters, the government aims to foster an “effective state with robust public management and institutions.” This vision includes a comprehensive restructuring of the public sector based on an updated framework.
The statement further elaborates that the government will work towards economic recovery which cannot be achieved without restructuring the banking sector. It emphasized that “deposits will be a priority, ensuring their protection through a comprehensive plan adhering to international best practices to safeguard depositors’ rights.”
Moreover,
Tthe statement reaffirmed Lebanon’s sovereign rights, stating, “The Lebanese state will exercise full authority over all its territories.”
Unlike previous statements in recent years which were seen as legitimizing the role of Hezbollah, an Iranian-backed group, in Lebanon’s defense, this statement adopts a different tone. It clearly expresses the government’s desire for Lebanon to be “a state that holds the decision of war and peace.”
This negotiation with the IMF marks a pivotal moment for Lebanon, aiming not just at financial recovery but also at redefining governance and sovereignty in the region.
