Reforms agreed with IMF became inevitable, Wronecka states

Lebanon News
2023-03-24 | 11:16
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Reforms agreed with IMF became inevitable, Wronecka states
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Reforms agreed with IMF became inevitable, Wronecka states

United Nations Special Coordinator for Lebanon, Joanna Wronecka, has stated that the reforms agreed upon with the International Monetary Fund (IMF) have become inevitable.  

In a tweet, Wronecka said, "three years after Lebanon announced its first ever sovereign default, Lebanese are still waiting for their leaders to act to rescue the country."  

She stated that the Lebanese people became desperate by seeing their salaries "severely diminished by currency depreciation and inflation. Reforms agreed with the IMF are crucial and inevitable."  

In a press release, the IMF stressed on Thursday that Lebanon has been witnessing an unprecedented crisis causing a "severe economic dislocation" and a "triple-digit" inflation, leaving banks unable to extend credits to the economy and bank deposits.  

However, despite this challenging situation, the country has yet to make progress in implementing reforms, stating that some economic trends remain negative. 
 
 

Lebanon News

United Nations

Lebanon

Joanna Wronecka

Reforms

International Monetary Fund (IMF)

Crisis

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