IMF Ready To Pledge Up To $4 Billion To A New ‘Serious’ Cabinet In Lebanon

Lebanon is set to receive more than $1 billion from the International Monetary Fund (IMF) as Special Drawing Right this week

The International Monetary Fund (IMF) stated that it is willing to commit up to $4 billion to any new cabinet that will implement economic reforms, Hariri-owned Daily Star reported – citing a source at Lebanon’s Finance Ministry.

A senior IMF official reportedly informed caretaker Finance Minister Ghazi Wazni of the decision, adding that the international community was ready to give four times that amount only once a new cabinet is formed.

Lebanon is already set to receive $860 million from the IMF within two months

Speaking on the condition of anonymity, the source told the daily that the IMF was overall accepting of the economic rescue plan presented by Wazni and his team.

It is “a good starting point,” the source said, adding that the IMF would not accept “any changes in the losses of the banking sector mentioned in the report.”

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