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BANKING REFORMS

Lebanon’s unified front for the IMF falls apart in Washington

Several signs have revealed the deep fragility of Beirut’s unified stance, reviving the notion that part of the country’s political and financial establishment was “repeating the maneuver of 2022–2023.”

Lebanon’s unified front for the IMF falls apart in Washington

Minister of Finance Yassine Jaber (5th from the left), and the Minister of Economy Amer Bisat (4th from the right), on Oct. 13, during a meeting with World Bank executives in Washington. (Photo released by the Ministry of Finance)

Even if few expected it to be productive, the participation of several senior Lebanese officials and MPs in the World Bank and International Monetary Fund’s (IMF) annual Washington meetings turned out to be even less fruitful than anticipated for those advocating a deal between Lebanon and the IMF.That, at least, is what emerges from the accounts of two Lebanese sources familiar with the discussions. They told L’Orient-Le Jour that the united front displayed on the first day by the Lebanese delegation — led by Finance Minister Yassine Jaber, Economy Minister Amer Bisat and Central Bank Governor Karim Souhaid — quickly fell apart.On Friday, however, a third source close to the central bank, contacted by the al-Markazia news agency, dismissed what they called rumors that damage Lebanon’s image abroad and weaken its position in negotiations...
Even if few expected it to be productive, the participation of several senior Lebanese officials and MPs in the World Bank and International Monetary Fund’s (IMF) annual Washington meetings turned out to be even less fruitful than anticipated for those advocating a deal between Lebanon and the IMF.That, at least, is what emerges from the accounts of two Lebanese sources familiar with the discussions. They told L’Orient-Le Jour that the united front displayed on the first day by the Lebanese delegation — led by Finance Minister Yassine Jaber, Economy Minister Amer Bisat and Central Bank Governor Karim Souhaid — quickly fell apart.On Friday, however, a third source close to the central bank, contacted by the al-Markazia news agency, dismissed what they called rumors that damage Lebanon’s image abroad and weaken its position in...
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