The Lebanese Finance Ministry announced on Monday that several meetings had taken place between the ministry's directors and experts and the International Monetary Fund (IMF) delegation, led by Ernesto Ramirez-Rigo, the mission chief for Lebanon, currently in Beirut.

More meetings are scheduled for Tuesday and are of particular importance, as they aim to "reach conclusions and recommendations on the progress made on ongoing issues, in preparation for a new agreement," the Finance Ministry specified.

Last week, Julie Kozack, IMF’s communications director, announced that the IMF mission in Beirut would focus on issues of economic development and the reconstruction of the country, where a fragile cease-fire has been in place since Nov. 27 following two months of open war with Hezbollah. "Beyond this mission, the next steps might involve helping authorities formulate a comprehensive economic reform program," she added, alluding to the prospect of a new aid program.

"These meetings are part of ongoing efforts to enhance the transparency of public finances, aiming for more comprehensive reforms. They will address financial performance, budget development, as well as issues like public debt," explained the Ministry. It also indicated that discussions would cover "the necessary preparations for the 2026 budget and ways to finance reconstruction projects," particularly after the conflict with Israel. Concerning public debt, the ministry specified that "the public debt situation will be examined, previous data revised, and payments due to creditors as well as the external debt service will be analyzed."

This visit had been announced in February by Finance Minister Yassine Jaber during a meeting with Frederico Lima, IMF representative in Lebanon. On the same day, the IMF expressed its willingness to begin negotiations with the Lebanese government "regarding a new aid program."

The new government has pledged to revive the reform process to pull the country out of the crisis it has been mired in since 2019. Before stepping down in May 2022, the government of Najib Mikati had signed a preliminary agreement with the IMF committing Lebanon to launch several reforms as prerequisites for a bona fide financial assistance program, involving the release of $3 billion over four years. However, the country has not met its commitments, including initiating a process to resolve the virtually bankrupt banking sector, and the agreement, although still valid, has yet to be acted upon.

The National News Agency also reported on Monday that Jaber had met with a representative of the European Bank for Reconstruction and Development (EBRD), with whom he discussed "the projects supported by the bank in Lebanon, particularly in the private and energy sectors, as well as the technical assistance provided to public institutions."