Lebanon's New Government to Engage IMF, Address Financial Crisis
Lebanon's newly formed government has outlined plans to negotiate a new IMF program and tackle the country's financial default and public debt. According to a policy statement approved by the cabinet, the government will prioritize economic revival through banking sector restructuring.
IMF Negotiations
Finance Minister Yassin Jaber has met with the IMF's Representative in Lebanon to initiate negotiations. Lebanon previously secured a draft funding deal in 2022, but failed to implement necessary reforms.
Political Landscape and Security
The statement emphasizes Lebanon's neutrality in conflicts and the state's exclusive authority over decisions of war and peace. The government will adopt a national security strategy and pursue a foreign policy that aims to avoid regional tensions.
Economic Recovery
The cabinet's plan includes resuming oil and gas exploration and establishing a Ministry of Technology and Artificial Intelligence. To stabilize the financial system, the government will restructure the banking sector.
Diplomatic Relations
Recognizing the change in Syria's political landscape, Lebanon seeks to engage in dialogue to resolve border issues and address the presence of displaced Syrians within its territory.