Finance Minister Yassin Jaber (on the left) and Governor of the Banque du Liban (BDL) Karim Souhaid (on the right). (Credit: Archive photo provided by the Finance Ministry)
With a few weeks until the International Monetary Fund (IMF) spring meetings in Washington in April, the government continues to face a thorny issue that is casting a shadow over the negotiations: the $16.5 billion debt that the central bank (BDL) has been claiming from the Treasury for years, and which successive finance ministers have disputed, first questioning its existence and then its legal classification.A resolution to this dispute has become a prerequisite for the IMF to advance an agreement, as its outcome could significantly impact the sustainability of public finances, while the Lebanese government also faces obligations for debt restructuring — defaulting on its payment in March 2020—, deposits return, and social and investment spending.All these pressures weigh on the equation and explain the IMF’s insistence that the...
With a few weeks until the International Monetary Fund (IMF) spring meetings in Washington in April, the government continues to face a thorny issue that is casting a shadow over the negotiations: the $16.5 billion debt that the central bank (BDL) has been claiming from the Treasury for years, and which successive finance ministers have disputed, first questioning its existence and then its legal classification.A resolution to this dispute has become a prerequisite for the IMF to advance an agreement, as its outcome could significantly impact the sustainability of public finances, while the Lebanese government also faces obligations for debt restructuring — defaulting on its payment in March 2020—, deposits return, and social and investment spending.All these pressures weigh on the equation and explain the IMF’s insistence that...
Humanitarian convoy reaches Rmeish, Ain Ibl, Dibil despite obstacles