IMF calls on Lebanon to implement fundamental reforms to receive support

The International Monetary Fund (IMF) has called on Lebanon to implement “a number of fundamental reforms in the economy and the banking sector to reach a new agreement to obtain support from the Fund,” according to Reuters. The Fund noted that “Lebanon’s path toward concluding an agreement with the IMF requires several different elements.” IMF spokesperson Julie Kozak said during a press conference: “It requires sustained progress on key reforms, including the entry into force of the law on addressing the situation of banks, and the adoption of appropriate legislation to address the fiscal gap in line with international standards.”