The facade of the Central Bank in Hamra, Dec. 30, 2024. (Credit: Philippe Hage Boutros/L'Orient-Le Jour)
Although the International Monetary Fund (IMF) delegation pointed to positive discussions as it wrapped up its Beirut visit on June 5, negotiations with the Lebanese authorities have not progressed, particularly on the most sensitive issues: the banking sector’s restructuring and the resolution of the deposit crisis. If the Finance Ministry is still considering the signing of a staff-level agreement during the IMF and World Bank annual meetings scheduled for next October, then Lebanon will be required to meet several key commitments by that time.On this front, the current cabinet has shown a much stronger determination than its predecessors and enjoys significant trust from its international partners. However, while the May-June mission marks the third round of negotiations since the cabinet’s formation, the only reform actually passed...
Although the International Monetary Fund (IMF) delegation pointed to positive discussions as it wrapped up its Beirut visit on June 5, negotiations with the Lebanese authorities have not progressed, particularly on the most sensitive issues: the banking sector’s restructuring and the resolution of the deposit crisis. If the Finance Ministry is still considering the signing of a staff-level agreement during the IMF and World Bank annual meetings scheduled for next October, then Lebanon will be required to meet several key commitments by that time.On this front, the current cabinet has shown a much stronger determination than its predecessors and enjoys significant trust from its international partners. However, while the May-June mission marks the third round of negotiations since the cabinet’s formation, the only reform actually...