| 29 September 2022, Thursday |

Official negotiations between Lebanese government, IMF kick off

Official negotiations kicked off on Monday afternoon between the Lebanese government and the International Monetary Fund over the economic recovery program.

Chairing the aforementioned negotiations on the Lebanese side is Deputy Prime Minister, Saadeh Shami, and Ernesto Ramirez, on the IMF’s side.

The first round of negotiations is being held online due to the delegation’s failure to come to Lebanon as per pandemic travel restrictions imposed by the IMF.

During today’s first session, the agenda and points to be discussed within the coming two weeks were discussed.

Deputy Prime Minister, Saadeh Shami, said in a statement: “In this first round of negotiations, we will discuss the budget, the banking sector, the US dollar exchange rate, the balance of payments, the energy sector, governance, assistance to poor families, and other topics that will form the basic elements of the economic recovery program.”

In response to a question, he expressed hope that negotiations would end as soon as possible. “Yet, given the complexity of the issues, it is possible that other rounds will be held until we reach an agreement,” Shami added.

He went on to point out that once negotiations were over, and after the approval of the Council of Ministers, the Lebanese government would sign a preliminary agreement with the IMF’s delegation.

“After that, the IMF delegation will submit its report to the Board of Directors until the final approval is obtained and implementation begins,” Shami explained.

  • NNA