Lebanese govt talks with IMF moving in the right direction: Deputy PM al-Shami
Talks between the Lebanese government and the International Monetary Fund are moving in the right direction and have made important progress, Lebanese Deputy Prime Minister Saadeh al-Shami told the National News Agency (NNA) on Tuesday.
The International Monetary Fund said in February it would remain “closely engaged” with Lebanon’s authorities to help the crisis-ravaged country formulate an economic reform program.
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Lebanon’s financial system unraveled in late 2019 under the weight of huge public debts, slicing more than 90 percent off the local currency’s value and plunging a majority of the population into poverty.
Read more: IMF’s tough terms deepen doubts over quick Lebanon bailout: Sources