IMF Negotiations Still Awaiting Desperately Needed Reforms


The Lebanese government is still struggling to find common ground with the International Monetary Fund (IMF), given the lack of real reforms required for the financial assistance the government is seeking. In a series of interviews, LIMS explained that officials still have not agreed on a single plan to present to the IMF, which would be the gateway to support from other organizations and countries. The government has a spending problem which has led to record-high levels of debt, hence the current crisis.

LIMS determined that minimizing and restructuring the public sector is essential for any reform plan to work. This would include increasing transparency in spending and passing them through the Tender’s Department. In addition, the government needs to open currently held sectors to competition like electricity, telecom, water, roads, and aviation. The delay in undertaking these reforms is taking its toll on the Lebanese people through the continued deterioration of the economic situation and the Lebanese pound simultaneously.

LIMS added that officials need to eliminate subsidies, which have little to no benefit, since these products are being smuggled abroad. This would stop the central bank from uselessly draining its remaining reserves.

LIMS Media Interviews:

  • Agreeing On A Single Reform Plan Is Essential For Lebanon, July 18, 2020: Radio Lebanon, Radio Interview AR
  • Government To Bear Part Of The Losses, July 25, 2020, VDL Radio Station, Radio Interview AR
  • Following Reforms Should Be A Priority To Stop The Crisis, July 12, 2020: Assas Media, Interview AR
  • Shortages Of Subsidized Goods As They Are Smuggled Abroad, July 4, 2020: Lebanon 24, Interview AR
  • Government Expands List Of Subsidized Goods Deepening The Crisis, July 25, 2020: Arabi 21, Interview AR
  • Central Bank Reserves Will Parish Because Of Subsidies, July 21, 2020, Lebeconomy Files, Interview AR
  • Increasing Electricity Bill, Crucial For Reform, July 31, 2020 – LBC Prime Time News, TV Interview AR