The International Monetary Fund has warned that Lebanon is still facing enormous economic challenges, four years after the country's historic meltdown began.
FILE - Clients wait to use ATMs outside a closed bank in Beirut, Lebanon, Wednesday, June 2, 2021. Four years after Lebanon's historic meltdown began, the small nation is still facing"enormous economic challenges," with a collapsed banking sector, eroding public services, deteriorating infrastructure, and worsening poverty, the International Monetary Fund warned Friday, Sept. 15, 2023.
The IMF said that despite the move, a permanent solution requires comprehensive policy decisions from the parliament and the government to contain the external and fiscal deficits and start restructuring the banking sector and major state-owned companies.Wassim Mansouri, called on Lebanon's ruling class
Lebanon is in the grips of the worst economic and financial crisis in its modern history. Since the financial meltdown began in October 2019, the country’s political class — blamed for decades of corruption and mismanagement —Lebanon started talks with the IMF in 2020 to try to secure a bailout, but since reaching a, the country's leaders have been reluctant to implement needed reforms.
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IMF warns Lebanon that the country is still facing enormous challenges years after a meltdown beganThe International Monetary Fund has warned that Lebanon is still facing enormous economic challenges four years after the country's historic meltdown began.
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