Lebanese Prime Minister Najib Mikati is set to have a meeting with French President Emmanuel Macron this Friday.
In the meeting, announced by the PM on Tuesday, Mikati reportedly seeks to discuss activating the terms of the 2018 CEDRE conference, which would enable Lebanon to receive between $3 billion and $4 billion.
This step is meant to accompany the launch of talks between the newly-formed Lebanese government and the International Monetary Fund (IMF) to provide financial assistance to Lebanon.
The IMF has offered to provide loans worth several billion dollars meant to help the crisis-hit country undergo various developmental and vital infrastructure projects.
However, the assistance depends on Lebanon’s adherence to the French initiative. To unlock the support, the government would first need to implement a series of reforms.
It is to note that Lebanon has initiated negotiations with the IMF with the hope of securing a bailout, which would help pave the road toward economic recovery.
As the country’s crippling economic crisis continues to deepen, its inflation rate has surpassed that of every other crisis-hit country, becoming the highest in the world.