| 28 September 2022, Wednesday |

Lebanon’s Mikati expresses hope of IMF accord in weeks

A delegation from the International Monetary Fund will begin talks in Lebanon on March 29, Prime Minister Najib Mikati said on Saturday, expressing optimism that a deal will be reached in the coming weeks.

“They will begin their mission in Lebanon next Tuesday,” he told reporters on the sidelines of the Doha Forum in Qatar.

“Hopefully… we’ll see the light by the end of two weeks,” Mikati said.

According to UN agencies, the Lebanese pound has lost more than 90% of its value since 2019, when the financial system collapsed, plunging the majority of Lebanese into poverty.

Reforms demanded by donors to provide assistance to Lebanon include steps to tackle widespread corruption, tax dodging and government deficits – the root causes of the meltdown.

“We don’t have an option, it is an obligatory path to negotiate with the IMF and to achieve an agreement,” he added.

  • Reuters