The International Monetary Fund (IMF) has announced that the preparatory talks with Lebanon have started to unlock international aid upon request from the Lebanese government.
IMF spokesman Gerry Rice declared that “the IMF has received a letter from Prime Minister Mikati expressing interest in a fund program. And I can tell you that preparatory technical discussions have started.”
“Clearly, strong policies and reforms are needed to address the really unprecedented economic and social crisis facing Lebanon and the Lebanese people,” he added.
Lebanon hopes to unlock billions of dollars in financial aid as it faces one of the world’s worst crises since the mid-19th century, according to the World Bank.
The United Nations has announced in August a $378.5 million emergency aid plan for the most vulnerable in Lebanon. Today, three-quarters of the Lebanese population lives under the poverty line.