The IMF technical team is expected to arrive in Beirut in the next few days to help draw up an economic, financial and monetary plan, according to a senior government source. ― Reuters pic
He said the IMF regularly provides advice to its member countries on policies and reforms to restore economic stability and promote growth. The IMF statement made no mention of financial assistance for Lebanon. Deciding how to handle Lebanon's next sovereign debt maturity is a top priority for Prime Minister Hassan Diab's government, which won a vote of confidence in Parliament on Tuesday.
Lebanon was seeking advice on the March Eurobond “amid concerns that any reprofiling of Lebanon's debt should be conducted in an orderly way to avoid damaging the country's banking system,” the second government source said.
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