IMF mission in Beirut — will Lebanon seize its 'last chance'?

Report by Lara El Hachem, English adaptation by Karine Keuchkerian

A month has passed since the 2025 Spring Meetings of the World Bank Group and the International Monetary Fund (IMF), in which Lebanon participated in an attempt to bridge the gap with the international community.

The IMF mission is arriving in Beirut to follow up on Lebanon’s progress, largely unconcerned with the narrow, often paralyzing details of domestic debates shaped by political protections and conflicting interests.

What the IMF seeks in order to sign an agreement with Lebanon is assurance that the country can sustainably repay its debts—through accountable institutions and a state capable of attracting investment. So, what progress has Lebanon made in the past month?

Since the adoption of the banking secrecy law in the form requested by the IMF, no tangible progress has been made on reforms. The draft law to restructure the banking sector remains stalled in discussions between a parliamentary subcommittee and the central bank governor. 

Meanwhile, the government is waiting for the central bank to submit the draft financial gap law so it can be reviewed and forwarded to Parliament.

As has been the case since the financial crisis began, reform legislation is moving at a slow pace in Parliament. The situation is no better in government, despite its stated awareness that this may be its final opportunity to act.

Several weeks ago, Lebanon received a governance and corruption assessment from the IMF, identifying weaknesses in various sectors—including customs, public financial management, the central bank, and others—and offering recommendations on governance and anti-corruption measures in these areas.

The Lebanese government is now in the final stages of reviewing the IMF’s recommendations and evaluating how they align with the local context through nine specialized teams.

The state cannot afford further delay. Lebanon’s commitment to these reforms will be a key condition for signing any agreement with the IMF.