The Agreement Between Lebanon and the IMF: Is There Hope?

Economic sources reported that severe negative atmospheres undermine any hope for finalizing a cooperation agreement between Lebanon and the International Monetary Fund (IMF). The sources informed "Al-Jumhuriya" that reliable news from the IMF indicates the bleak prospects for cooperation with Lebanon as long as the responsible parties continue on a path that does not lead to any collaboration. This includes failing to meet commitments, unjustified delays in approving what has been agreed upon between the IMF and the Lebanese government, and postponements in completing essential projects. Additionally, the steps taken are seen as inadequate to meet the necessary needs and objectives; for instance, the approved draft regarding banking secrecy does not meet the minimum acceptable standards required by any international financial institutions, according to the IMF. Furthermore, the sources quoted a senior international financial official asserting that "the Lebanese side is not ready for cooperation." He stated that "this approach adopted by the Lebanese side clearly indicates an unannounced decision or plan by the political class in Lebanon to remain stagnant in the crisis while continuing to evade, waste time, and play with words and phrases without finding solutions or remedies for their complexities."