Beirut – Archyde.com
Lebanese Deputy Prime Minister Saadeh Al-Shami said in a statement, Wednesday, that a delegation from the International Monetary Fund may visit Lebanon in the second half of March to continue discussions on a financial assistance program supported by the Fund.
Lebanese officials held talks with the International Monetary Fund last month, aiming to reach an agreement seen as the only way to secure the country’s exit from a financial meltdown that began in 2019 and sharply devalued the local currency and left most of the country’s population in poverty.
The statement stated that a technical team from the International Monetary Fund visited Lebanon on February 28 and March 1, and held talks with members of the committee in charge of negotiations with the Fund headed by Dr. The aim of the visit was to assess the work done so far and to identify the next steps to be taken to reach an agreement on a program with the IMF.
The statement added, “The IMF team stressed the need for some required legislation before submitting the program to the Fund’s Board of Directors for final approval.”
Sources briefed on the talks, which took place in February, stated earlier that this includes lifting or amending the strict regulatory measures related to the secrecy of bank accounts, which were previously credited with boosting the Lebanese economy, but are currently seen as helping to Covering up profiteering and tax evasion.
The statement said: “The two parties also agreed that any delay in carrying out the necessary reforms and legislation will raise the cost of economic correction in the future.”
