An IMF delegation during a meeting in Ain al-Tineh with Parliament Speaker Nabih Berri. (Photo credit: DR)
BEIRUT — An International Monetary Fund (IMF) delegation led by the organization’s mission chief for Lebanon, Ernesto Ramirez-Rigo, started a three-day visit to Beirut on Monday to meet with Lebanese officials as the country vies for a multi-billion-dollar financial assistance loan.
Accompanied by the organization’s resident representative in Lebanon, Frederico Lima, the delegation began its tour with a visit to caretaker Minister of Finance Youssef Khalil, Deputy Prime Minister Saade Chami and caretaker Economy Minister Amin Salam.
After a second meeting Monday afternoon at the Ministry of Finance, the IMF group went to Ain al-Tineh to meet with Parliament Speaker Nabih Berri.
Last Thursday, IMF spokesperson Gerry Rice said that the purpose of the visit was to “try to accelerate” the process of implementing reforms that Lebanon must make in order to unlock the aid package.
According to Rice, the delegation would also “prepare the ground” for a longer and more substantial mission that would be put in place after the formation of a new government, a process that has been stalled since May’s legislative election.
What were Berri and Khalil's comments?
In a statement issued at the end of Monday’s Ain al-Tineh meeting, Berri emphasized “Parliament’s determination to intensify its work on achieving the reforms” required by the IMF in a preliminary agreement reached in April.
However, Berri’s statement came after Parliament, which had gathered last week, failed to vote on the state budget for 2022 following a series of sessions to discuss the issue. Passing the budget is one of the IMF’s conditions for unlocking the loan.
Finance Minister Youssef Khalil also issued a statement Monday evening, saying his meeting that day with the IMF focused on the 2023 draft budget and any differences it may have with the budget for 2022. He noted that the 2022 budget was aimed at “meeting the basic needs of the population,” including food security, health and education.
Khalil added that the “strategic measures” would be incorporated into the 2023 budget proposal. He defended the contents of the 2022 draft budget, adopted earlier this year by the cabinet, assuring that was in line with IMF requirements — especially regarding “the balance of payments and the balance of trade.”
Lebanon has sunk into a wide-reaching financial crisis since 2019. The potential IMF assistance has been under discussion since 2020 and is considered by many experts to be vital for the country’s economic recovery.
This article was originally published in French in L’Orient-Le Jour.
