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Mikati deploys efforts to reach final agreement with IMF

Lebanon Economy

24-12-2022 | 09:25

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Mikati deploys efforts to reach final agreement with IMF

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At a time when the required reforms from the International Monetary Fund are progressing slowly, and at a time when some are trying to evade any agreement with the Fund, an effort is being made by Caretaker Prime Minister Najib Mikati's team to reach a final program with the Fund.

Based on this program, Lebanon can include projects amounting to $24 billion, which constitutes the main objective of the final agreement with the Fund, not just obtaining $3 billion.

Those following up on this matter said that a discussion took place between Mikati's team and the IMF in this regard.

They added that there is tacit approval from this Fund to discuss these projects dealing with various sectors and their implications on the social, economic, financial, and monetary levels.

If these repercussions are positive, the IMF will give its green light to proceed.

Based on this approval, the government will reach out to donors, mainly Arab and European funds, international financial institutions, and countries interested in these projects, to request funding, which is supposed to be facilitated by the trust created as a result of the final agreement with the IMF.

These positives are still on paper and will come to light once Lebanon's power structure is complete. This structure begins with the election of a president and the formation of a government that will push for parliamentary approval of reforms and drives their implementation to reach a final agreement with the IMF, which is still pending.

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