IMF: The Lebanese Economy is Under Severe Pressure Due to Stagnation

The International Monetary Fund stated that "the Lebanese economy is still suffering from severe pressure due to the ongoing stagnation in the required reforms." It emphasized that "completing the prior actions is necessary for the fund to consider Lebanon's request for a financial program." It noted, "There must be full protection for small depositors in Lebanon." The IMF also mentioned that "the significant losses in the Lebanese banking sector must be acknowledged and addressed upfront." In this context, Reuters reported that the IMF will remain engaged with Lebanese authorities to push the reform agenda.