The IMF spokesperson Julie Kozack during a press briefing in Washington. Screenshot from a video released by the IMF.
BEIRUT — A delegation from the International Monetary Fund (IMF), led by Lebanon mission chief Ernesto Ramirez-Rigo, will visit Beirut from March 10 to 14 to discuss economic reforms and Lebanon's ongoing financial challenges, IMF spokeswoman Julie Kozack confirmed on Thursday.
Earlier, Finance Minister Yassine Jaber had stated that the delegation was expected "next week" during meetings with the directors of public finance and customs at the ministry, the content of which was relayed in a statement. The visit aims to engage with Lebanon’s newly formed government, led by Prime Minister Nawaf Salam, on pressing economic issues.
The delegation will discuss potential reforms and Lebanon's economic struggles, particularly in light of the fragile cease-fire between Israel and Hezbollah, which remains incompletely applied. Kozack noted that, aside from gathering information, the mission could pave the way for a comprehensive economic reform program, which might include a new aid package for the country.
"Beyond this fact-finding mission, the next steps could involve helping authorities to formulate a comprehensive economic reform program," said Julie Kozack, alluding to the prospect of a new aid program.
The visit was initially announced — with no set dates — in February by Jaber, following a meeting with IMF representative Frederico Lima. On the same day, the fund expressed its readiness to open negotiations with the Lebanese government "on a new aid program."
The new government, formed on Feb. 8, has promised to restart the reform process to pull the country out of the economic crisis it has been in since 2019. Before resigning in May 2022, then-Prime Minister Najib Mikati's government had signed a preliminary agreement with the IMF committing Lebanon to launch a number of reforms as prerequisites for a formal financial assistance program, which envisaged the release of $3 billion over four years. However, the country has not fulfilled its commitments, including initiating steps to resolve the collapsing banking sector. As a result, while the agreement remains in effect, no significant progress has been made.