Close Menu
    Facebook X (Twitter) Instagram
    Sunday, June 15, 2025
    961
    Instagram Facebook LinkedIn TikTok
    • Breaking News
    • Guides
    • Food & Drink
    • Listicles
    • Join the Team
    • Whatsapp
      • 961
      • 961 News
    • AUB Outdoors ☀️
    Advertise with Us Get the App
    961
    Home»News»Lebanon News
    3 Mins Read

    Lebanese Gov’t Just Approved the IMF ‘Rescue Plan’

    By Christie K.March 6, 2020Updated:July 19, 2021
    Facebook WhatsApp Copy Link

    Facing internal controversial stances and foreign pressures to solve Lebanon’s economic collapse, the Lebanese government had to put a halt to the delay in rescuing Lebanon.

    On Thursday, it approved the rescue plan which was designed by the IMF and the hired consultants, with some minor changes, in order to pull the country out of its worst economic and financial crisis in decades.

    The drafted policy that encompasses measures designed to decrease debt and increase productivity includes restructuring the public sector, reducing interest rates, recapitalizing banks, and seeking support from foreign donors.

    In a meeting with European ambassadors, PM Diab “urged European states to open a credit line and provide aid” to rescue Lebanon. “Lebanon needs urgent help today at various levels: power, food supplies, raw materials,” PM Diab said, according to Al-Jazeera.

    Dalati & Nohra

    The European countries are ready to help yet they require that Lebanon implements the much needed and long-overdue reforms; nothing short of what the revolution has been demanding for over four months.

    That stance has also been expressed this week by Jan Kubis, the United Nations Special Coordinator for Lebanon, who said through the local media: “If you don’t help yourselves, why do you expect assistance from the outside world?”

    Indeed, it is expected that Lebanon moves into a clear and transparent action plan, and proves to the world its readiness for reforms in order for foreign donors to lend their help.

    Al Bawaba

    Lebanon’s information minister said the cabinet has approved the rescue plan on Thursday mentioning that some amendments were implemented, yet it is still unknown what are the changes made to the 17-page statement.

    The government is scheduled to present the amended rescue plan to the parliament on Tuesday, March 10th, for a vote of confidence.

    Some opposition is expected though from Hezbollah and its political allies, which hold the majority in the parliament, considering the recent declaration of Hezbollah Deputy Leader Sheikh Naim Quassem: “We do not accept submitting to the International Monetary Fund to manage the crisis.”

    View this post on Instagram

    A post shared by Marwan G Nassar (@marwan.g.nassar)

    Furthermore, in a televised statement on Thursday, Hezbollah’s parliamentary bloc stated that decisions on the upcoming debt payment would require national consensus.

    “Radical [moves] … require a national decision and popular understanding,” the bloc said.

    As Lebanon’s authorities continue to struggle to decide whether to repay the Eurobond, which first bulk of $1.2bn matures in the coming days, the struggle to keep Lebanon from drowning has become even more challenging.

    View this post on Instagram

    A post shared by Lebanonuprising⚖️ (@lebanonuprising)

    “It is imperative to start work immediately to make up for the lost time,” President Michel Aoun declared on Thursday.

    That “lost time” has been an unbearable pain on the Lebanese people and businesses as they watch the officials delaying to take constructive actions to save the country.

    In that regard, Al-Jazeera commented on Friday: “The government is facing a cash crunch, a weakening local currency, soaring inflation, and foundering confidence in banks that have imposed informal curbs on the amount of United States dollars that depositors can withdraw.” 

    View this post on Instagram

    A post shared by Matthieu Karam (@matthieu_karam)

    Now the eyes are on the parliament and what it will come to decide on whether to give the vote of confidence to the Cabinet’s amended rescue plan or not. 

    Meanwhile, protests continue fiercely across Lebanon with the people’s anger mounting at the long-dragging inaction of the authorities to save the country from its increasing misery.

    International Monetary Fund (IMF)
    Share. Facebook Twitter LinkedIn WhatsApp Reddit Email

    For You

    uae travel ban lebanon 961

    UAE Is Officially Removing The Travel Ban On Lebanon

    Joe Issa El-Khoury 961

    Who is Joe Issa El-Khoury, Lebanon’s New Minister of Industry

    Adel Nassar 961

    Who is Adel Nassar, Lebanon’s New Minister of Justice

    Nizar Hani 961

    Who is Nizar Hani, Lebanon’s New Minister of Agriculture

    Charles Hajj 961

    Who Is Charles Hajj, Lebanon’s New Minister of Telecommunications

    Nora Bayrakdarian 961

    Who is Nora Bayrakdarian, Lebanon’s New Minister of Youth and Sports

    lebanon cybergames 2025 hacking 961

    Lebanon Just Won A Global Hacking Competition

    lebanon jounieh cyprus by ferry 961

    You’ll Soon Be Able To Travel Between Lebanon & Cyprus By Ferry

    June 8, 2025
    whish pay lebanon 961

    You Can Now Use Whish Pay At Shopify Stores

    June 13, 2025

    Ampere Cinema Reopens Its Doors In North Lebanon After 28 Years Of Absence

    June 30, 2022
    lebanese beer brands almaza beirut beer 961

    Lebanese Beer Brands Are Publicly Throwing Shade, And It’s Getting Frothy

    June 7, 2025

    20 Celebrities You Probably Didn’t Know Had Lebanese Roots

    April 22, 2019
    Michel Hayek

    Michel Hayek 2025: Predictions For The World

    December 31, 2024
    Michel Hayek

    Michel Hayek 2025: Predictions For Lebanon

    December 31, 2024
    visa whish money partnership

    Visa and Whish Money Just Partnered To Push Digital Payments in Lebanon and Abroad

    May 6, 2025

    Lebanon’s Shawarma Is Going Viral in The Philippines

    April 21, 2019
    961 Logo
    Facebook WhatsApp TikTok Instagram

    Popular Topics

    • Guides
    • Eat & Drink
    • Listicles
    • Lebanon News
    • Diaspora
    • Explained

    961

    • About
    • WhatsApp Channel
    • News WhatsApp Channel
    • Corrections Policy
    • Ownership & Funding

    Services

    • Advertise
    • Careers
    • App Waitlist
    • Contact Us
    • Newsletter
    961™ | All Rights Reserved ©2025
    • Privacy Policy
    • Terms

    Type above and press Enter to search. Press Esc to cancel.

    We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.Okay