IMF Urges Lebanon to Regain World’s Confidence
Arab World
Beirut - Mohamed Choucair
A Lebanese official, who attended the meetings of the International Monetary Fund delegation in Beirut, said that the IMF experts have not advised the government on the payment of Eurobonds maturing in March, asserting that it was up to the Lebanese authorities to decide what action to take. The official, who spoke to Asharq Al-Awsat on condition of anonymity, stressed that the IMF delegation had a “technical advice-giving” mission. “The Lebanese government raised a series of questions on the economic and financial situation, which is heading towards a further collapse, and received from the experts clear, unambiguous answers,” he said. The official quoted the IMF experts as saying that the major challenge was Lebanon’s ability to restore the international community’s confidence, which was shaken following Beirut’s failure to commit to the pledges made at the CEDRE Conference held in Paris in 2018. He denied, however, claims that the IMF mission had recommended in its meetings an economic and financial plan that could salvage Lebanon if the government implemented it swiftly. Lebanese officials are aware of the country’s problems and have promised to undertake administrative and financial reforms, but their pledges have remained ink on paper, according to the official. The delegation was keen to evoke a series of crises that a number of countries were able to overcome, and the mistakes to be avoided in due process. The IMF mission emphasized that Lebanon should prove its commitments this time with immediate actions, starting with the electricity sector. This must be based on securing permanent solutions to stop the depletion of state resources, the official quoted the experts as saying.
from Asharq AL-awsat https://aawsat.com/english/home/article/2150436/imf-urges-lebanon-regain-world%E2%80%99s-confidence
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