Negotiations between Lebanon and the IMF have seemingly worsened, as they have began to go in a vicious cycle. The Lebanese government insists on evasiveness and refuse to implement the conditions tied to receiving the financial aid.
One economic expert told “Al-Liwaa” Newspaper that the “The negotiations between the IMF and the Lebanese delegation have been moving in a vicious cycle for several reasons. The first is the division within the delegation itself, the second is the discrepancy between the values denoted as financial losses, and third is the absence of serious commitment to implement the required reforms in the electric sector, taxes, and customs.”
He also pointed out that: “In light of this bitter reality, a joint meeting was set up and will be held on Monday at the Ministry of Finance. The meeting will be attended by the Minister of Finance and his team, the Governor of the Central Bank and his delegation, and a delegation from the Association of Banks of Lebanon. This agreement was reached based on the advice of many senior politicians and financial and international monetary consultants. It aims to further coordination and establish a unifying position among the Lebanese delegation; especially when it comes to the figures pertaining to financial losses that are estimated by around one hundred thousand billion Liras. Many officials are now convinced that the numbers of the Central Bank and the Association of Banks are the more accurate and reliable figures. These figures must be ratified in order to move forward with the negotiations.