The talks between the Lebanese government and the International Monetary Fund are progressing well, according to Lebanese Deputy Prime Minister Saadeh al-Shami, who spoke to the National News Agency (NNA) on Tuesday.

In February, the International Monetary Fund stated that it would remain “closely engaged” with Lebanon’s authorities in order to assist the crisis-torn country in developing an economic reform plan.

Lebanon’s financial system collapsed in late 2019 under the weight of massive public debts, wiping out more than 90% of the value of the local currency and plunging the majority of the population into poverty.