IMF Urges Lebanon To Implement Reforms For Growth

(MENAFN- Brazil-Arab News Agency (ANBA)) São Paulo – A delegation from the International Monetary Fund (IMF ) met this week with Lebanese authorities to assess the Arab country's economic data. At the end of the visit to capital Beirut held from Monday (22) to Thursday (25), the head of the delegation, Ernesto Ramirez Rigo, released the IMF team's assessments of the Lebanese economy.

According to Rigo, Lebanon has shown resilience, even within the context of regional instability. The authorities managed to accumulate international reserves and even achieve a small fiscal surplus by keeping fiscal and monetary challenges under control. The IMF also noted that the country succeeded in establishing regulatory authorities in the electricity and telecommunications sectors.

On the other hand, the Fund urged Lebanon's leaders to implement“ambitious and comprehensive” reforms so that the country can achieve significant and sustained long-term economic growth.“They are also needed to attract international support to help the country rebuild its economy and reconstruct the war-devastated areas. Against this backdrop, the mission focused primarily on the authorities' efforts to rehabilitate the banking sector and the 2026 government budget,” the document goes on.

The banking sector received special attention from the Fund's experts. According to the statement, Lebanon is advised to advance legislation and local banking restructuring processes so that they are aligned with international standards. It also highlighted the need to protect small depositors and ensure the sustainability of public debt.

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Translated by Guilherme Miranda

©AFP

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