| 2 March 2024, Saturday |

International support striped for Lebanon is associated with political change

The deteriorating political and economic situation in Lebanon, has raised the international community’s concerns about the fate of Lebanon. Well-informed diplomatic sources said that attention is focused on the possibility of the Council of Ministers reconvening, and they are giving a deadline of two weeks before this return, otherwise the Lebanese situation will be in a big dilemma.

The sources pointed out that the new team of the International Monetary Fund (IMF), which visited Lebanon recently, will study the government’s plan for a period of two months. The sources rule out that the plan will be signed before the parliamentary elections. It may be signed before the elections in one case only with a caretaker government, which has presented an excellent job and is committed to negotiations. It is worth noting that, traditionally, the IMF does not sign a plan with a government which is going, or that it will soon become a caretaker government. But in any case, the full agreement for an entire support between Lebanon and the IMF will not happen until after the elections. And in principle, the signature will be with a new government.

The sources confirmed that the entire support from the IMF, which will progress with the US consent, is also linked to the democratic trend and the return of Lebanon’s focus to it through the political process. In addition, full support for the state and its components does not occur without real political change to some extent, and this is what the parliamentary elections should crystallize.

The IMF team that visited Lebanon recently returned to Washington with a positive assessment of the efforts undertaken by the ministries to develop its reform plan. The delegation expressed its admiration for the complete and integrated project that the government is working on for the rescue, and the IMF is convinced of this.

The positions of the international delegates were clear regarding the way for Lebanon to rescue itself, and make the reforms. Before enrolling into the implementation of the plan, Lebanese officials will not have foreign visits of special importance or significant specific dimensions. Without the file that is under discussion with the IMF finished, any Lebanese move abroad will not be beneficial.

Informed sources indicated that the IMF has come to realize that it cannot give the same rescue formula to all countries. It is likely that the IMF’s recommendations will be adapted to the needs and resilience of each country. This is what will apply with Lebanon, and this new factor did not exist with the Greek crisis. The importance of the success of Lebanon’s negotiations with the Fund, means that Lebanon will obtain a bridge to the major international financial funds, starting from signing with the IMF. These funds are Arab and European, including investment funds that will begin providing long-term loans to Lebanon, amounting to a number of billions of dollars.

  • Sawt Beirut International