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IMF sees progress in assessing Lebanon's financial sector losses

16-12-2021 | 13:12

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IMF sees progress in assessing Lebanon's financial sector losses

IMF spokesman Gerry Rice said on Thursday that “the International Monetary Fund is assessing a $69 billion figure announced by Lebanese officials for losses in the country's financial sector,” adding that “considerable progress” had been made in identifying losses.

IMF spokesman also said preparatory technical discussions with Lebanese authorities to lay the groundwork for a fund-supported program were continuing.

“Any strategy for dealing with these losses needs to come together, of course, with the implementation of comprehensive reforms to restore confidence, strengthen incentives for investment, enhance governance and transparency,” Rice said, adding that this was “critical to boost employment, sustainable growth and reduce poverty over the years ahead.”

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