Lebanon Finance Minister Reports 'Good' IMF Meetings Amid War Delays
Lebanese Finance Minister Yassine Jaber announced that his government held productive meetings with the International Monetary Fund (IMF) in Washington, reaffirming their commitment to securing a lending program. Speaking on the sidelines of the IMF and World Bank spring meetings, Jaber acknowledged that ongoing conflict, specifically massive Israeli strikes on Lebanon, has significantly delayed the negotiation process. Despite these challenges, he emphasized the government's determination to proceed with necessary steps, aiming first for a staff-level agreement (SLA) before finalizing a broader program. Jaber estimated that the war has caused approximately $7 billion in damages, noting that the full extent of destruction remains unclear but is substantial. He mentioned collaboration with the World Bank for rapid damage assessments, contingent upon the cessation of attacks. The statement coincided with a newly agreed 10-day ceasefire between Israel and Hezbollah, intended to halt hostilities reignited by the wider regional conflict involving Iran. The finance minister highlighted recent destructive events, including the destruction of a major bridge and unannounced strikes on Beirut, as critical factors impacting Lebanon's economic recovery and IMF engagement efforts.
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Lebanon Finance Minister Reports 'Good' IMF Meetings Amid War Delays
Lebanese Finance Minister Yassine Jaber announced that his government held productive meetings with the International Monetary Fund (IMF) in Washington, reaffirming their commitment to securing a lending program. Speaking on the sidelines of the IMF and World Bank spring meetings, Jaber acknowledged that ongoing conflict, specifically massive Israeli strikes on Lebanon, has significantly delayed the negotiation process. Despite these challenges, he emphasized the government's determination to proceed with necessary steps, aiming first for a staff-level agreement (SLA) before finalizing a broader program. Jaber estimated that the war has caused approximately $7 billion in damages, noting that the full extent of destruction remains unclear but is substantial. He mentioned collaboration with the World Bank for rapid damage assessments, contingent upon the cessation of attacks. The statement coincided with a newly agreed 10-day ceasefire between Israel and Hezbollah, intended to halt hostilities reignited by the wider regional conflict involving Iran. The finance minister highlighted recent destructive events, including the destruction of a major bridge and unannounced strikes on Beirut, as critical factors impacting Lebanon's economic recovery and IMF engagement efforts.
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