An executive director of the International Monetary Fund said today, Tuesday, that he “hopes that it will be possible to start negotiations on a program with Lebanon before the new year to try to pull the country’s economy out of a suffocating crisis.”
The IMF program is seen by many as the only way for Lebanon to obtain much-needed foreign financial aid to emerge from one of the world’s most severe economic recessions.
Mahmoud Mohieldin said in a statement: “We hope that the effort being made today to access all the data and sufficient information will lead to the letter of intent that will be under the control of the government and the Banque du Liban. But in the beginning, all the required data must be available.”
Mohieldin’s comments came following a meeting with Lebanese Prime Minister Najib Mikati, today, Tuesday.
He said, “Any conditions that the IMF may request will not be harsher than what we see in Lebanon today.”
He added, “I imagine that after the success of this program, the required confidence can be restored to the economy, and we are positively betting on the ability of the Lebanese economy and people and their high ability to respond to positive signs, if they occur.”