Lebanon's Mikati expresses hope of IMF accord in weeks By Reuters

No-Recession Predictions Begin to Look More Plausible, but Risks Remain Too High

Lebanon's Mikati expresses hope of IMF accord in weeks

Published Mar 26, 2022 05:51AM ET Updated Mar 26, 2022 06:45AM ET

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Lebanon's Mikati expresses hope of IMF accord in weeks

© Reuters. FILE PHOTO: Lebanon's Prime Minister-Designate Najib Mikati speaks after meeting with Lebanon's President Michel Aoun, at the presidential palace in Baabda, Lebanon August 16, 2021. Dalati Nohra/Handout via REUTERS

DOHA (Reuters) -A delegation from the International Monetary Fund will start talks in Lebanon on March 29, Prime Minister Najib Mikati said on Saturday, expressing hope of a deal in the coming weeks.

"Next Tuesday they will start their mission in Lebanon," he told reporters on the sidelines of the Doha Forum in Qatar.

"Hopefully ... by the end of two weeks we will see the light," Mikati said.

The Lebanese pound has lost more than 90% of its value since 2019, when the financial system collapsed, plunging the majority of Lebanese into poverty, according to UN agencies.

Reforms demanded by donors to provide assistance to Lebanon include steps to tackle widespread corruption, tax dodging and government deficits - the root causes of the meltdown.

"We don't have an option, it is an obligatory path to negotiate with the IMF and to achieve an agreement," he added.

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Comments (2)

Chad Richer Than You Mar 26, 2022 8:00AM ET

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Invest in Lebanon. Invest in the forefront of Middle Eastern po. ssy xD

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Chad Richer Than You Mar 26, 2022 7:07AM ET

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Who cares for Lebanon anyways xD

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Lebanon's Mikati expresses hope of IMF accord in weeks

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