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Beirut / Raya Shartouni / Anatolia
The International Monetary Fund announced Thursday that the formation of a government in Lebanon is a condition for economic reform and access to international support.
This was stated by a spokesman for the Monetary Fund, Jerry Rice, in a virtual press conference.
“The formation of a new Lebanese government with a clear mandate is necessary to implement much-needed economic reforms to lift the country out of its financial crisis,” Rice said.
He added that “Lebanese politicians must address the problems of corruption and waste, as they are the main cause of the collapse.”
He added: “Foreign donors will not extend a helping hand to Lebanon, which is mired in debt (without forming a government).”
For months, the process of forming a new government has failed to replace the interim government led by Hassan Diab, who resigned a week after the Beirut port bomb attack on August 4.
And due to the economic and financial crisis that Lebanon has suffered since 2019, more than half of the population is below the poverty line, according to international organizations.
The difficult living conditions push Lebanese to protest from time to time, calling for the resignation of the ruling class, which they accuse of corruption and favoritism.
“The challenges facing Lebanon and the Lebanese people are greater than usual, and the need for a reform program is great,” Rice said.
He stressed that “it is necessary to form a new government immediately, and with a strong mandate to implement the necessary reforms.”
He added: “The International Monetary Fund is not discussing a program with Beirut at this time, but provides technical assistance to the Ministry of Finance and some state entities.”
In mid-May 2020, Lebanon began negotiations with the International Monetary Fund with the aim of obtaining financing for a plan drawn up by the government to save the country’s economy from the worst crisis it has faced in decades.
However, the negotiations stalled until they were suspended on July 3 of the same year, while the IMF attributed this at the time to internal Lebanese disputes over reforms that were stipulated to support the government’s plan.
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