IMF praises Lebanon’s efforts, plans Beirut mission Feb. 9-13

Lebanese Prime Minister Nawaf Salam met Thursday in Davos with the managing director of the International Monetary Fund (IMF), Kristalina Georgieva, in the presence of Finance Minister Yassin Jaber and Economy Minister Amer Bisat.

On her X account, Georgieva described their conversation as a “very productive discussion” and praised “his efforts and those of his team to pursue a comprehensive economic reform program.”

She also said she was “looking forward to the results of our upcoming mission to discuss IMF support for Lebanon’s reform program.”

The Grand Serail specified that both parties agreed to send an IMF expert mission to Lebanon from Feb. 9 to 13, in a very positive climate and with constructive exchanges.

According to the same source, Salam presented “the government’s reform track,” emphasizing the draft law that organizes the distribution of financial losses and restores deposit reimbursements.

“This project affirms the principle of responsibility, lays out a roadmap for recovering deposits, reviving the banking sector, and emerging from economic stagnation,” he said, noting that the project complies with international standards already discussed with IMF experts.

In an interview with Bloomberg on Wednesday, Salam said he was “confident” that Lebanon would adopt the law organizing the distribution of financial losses.

Responding to media reports about a supposed IMF rejection of the draft, he explained: “The term ‘rejection’ is exaggerated. The IMF said it could not approve the project as is and recommended certain amendments. Commitment to this project is positive, and we will continue to work with the Fund. We want to establish a program with the IMF, as stated in the ministerial declaration following the formation of the government.”

“Our goal is to have an acceptable program and a law that suits the IMF, but this is not an [order] from the Fund. We will negotiate and are confident that we will find appropriate solutions to the outstanding points,” Salam added.

He recalled that the bill is part of a trio of reforms that includes the banking secrecy law — already accepted by the IMF — and the banking resolution law, which the Fund also wants to see amended.