Finance Ministry Concludes Meetings with the IMF

The Ministry of Finance concluded its consecutive meetings today, Thursday, with the International Monetary Fund chaired by Ernesto Ramires Pergo, discussing the projects in collaboration with the Fund, particularly ideas regarding the 2025 budget project. Ramires praised the work of the relevant administration, especially in terms of not creating any financing deficit that threatens financial and monetary stability. He emphasized the need to complete measures that enable the ministry to enhance its revenues through tax compliance, confirming that the actions taken by the Ministry of Finance over the past year have significantly contributed to stabilizing the exchange rate and enabling the Central Bank of Lebanon to strengthen its foreign currency reserves. However, he noted that this stability will not be sustainable unless legislation regarding the restructuring of the banking sector and the necessary reforms to revive economic activity are completed. For his part, Finance Minister Youssef Khalil presented the measures being taken by the tax and customs administration together to control smuggling and enhance oversight, which helps limit the proliferation and escape of the informal economy.