Rice: The IMF is Committed to Helping Lebanon and the New Government Must Begin Reforms

IMF spokesperson Gerry Rice pointed out that "this dramatic economic contraction, the significant increase in poverty and unemployment rates, and the suffering that the Lebanese people are experiencing are the result of years of unsustainable economic policies." Rice explained in response to a question from MTV during a press conference that "the program funded by the IMF will be subject to measures that the Lebanese authorities have previously committed to implementing, after which the executive board will meet to discuss and study the program." He also emphasized the need to adopt decisive policies and reforms, noting the Fund's commitment to helping Lebanon and its people overcome this crisis. Furthermore, Rice underscored the importance of Lebanon's international financial partners in supporting government efforts and ensuring program financing and achieving its goals. Regarding the new Lebanese government, Rice confirmed that "it is important for the government to secure widespread political support to initiate the comprehensive reforms necessary to restore macroeconomic stability and sustainability and ensure the financial sector's solvency, with the aim of achieving more inclusive growth in the medium term."