Lebanon Finance Minister Reports 'Good' IMF Meetings Amid War Damages
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 delayed the negotiation process. Despite these challenges, he stated that officials are dedicated to advancing the 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 significant. He highlighted collaboration with the World Bank for rapid damage assessments, contingent on 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 U.S.-Israeli conflict involving Iran. Recent Israeli actions, including the destruction of a major bridge and unannounced strikes on Beirut, underscore the volatile security situation impacting Lebanon's economic recovery efforts.
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Lebanon Finance Minister Reports 'Good' IMF Meetings Amid War Damages
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 delayed the negotiation process. Despite these challenges, he stated that officials are dedicated to advancing the 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 significant. He highlighted collaboration with the World Bank for rapid damage assessments, contingent on 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 U.S.-Israeli conflict involving Iran. Recent Israeli actions, including the destruction of a major bridge and unannounced strikes on Beirut, underscore the volatile security situation impacting Lebanon's economic recovery efforts.
The Straits Times World News