IMF Sets Reform Requirements for Lebanon Financial Program

The International Monetary Fund announced Thursday that Lebanon must complete specific economic and banking sector reforms to secure a new financial program. These requirements follow a 2022 preliminary agreement and a broader financial collapse caused by decades of corruption and excessive spending by the ruling elite.

IMF spokesperson Julie Kozack stated that the country must implement a bank resolution law and establish financial gap laws that meet international standards. Lebanon is also required to present a 2027 budget and a medium-term fiscal framework aligned with its debt sustainability.

While the IMF welcomed the recent approval of a new banking restructuring law, President Joseph Aoun has referred that law to the constitutional council for review.