Economy, Lebanon, İnternational Monetary Fund İmf, Lebanon’S Bekaa

Economy, Lebanon

Lebanon’s new finance minister meets with IMF official | Malay Mail

Lebanon’s new finance minister meets with IMF official | Malay Mail

26.1.2020

Lebanon ’s new finance minister meets with IMF official | Malay Mail

BEIRUT, Jan 25 — The new finance minister of debt-saddled Lebanon met today with an official from the International Monetary Fund for what he said was a “courtesy visit” and not bailout talks. Ghazi Wazni’s meeting with IMF alternative executive director Sami Geadah came as Lebanon grapples...

Lebanon’s new finance minister meets with IMF official Saturday, 25 Jan 2020 11:02 PM MYT Lebanon’s new Finance Minister Ghazi Wazni (right) meeting with IMF Alternative Executive Director Sami Geadah in the capital Beirut January 25, 2020. — Handout pic by Dalati and Nohra via AFP BEIRUT, Jan 25 — The new finance minister of debt-saddled Lebanon met today with an official from the International Monetary Fund for what he said was a “courtesy visit” and not bailout talks. Ghazi Wazni’s meeting with IMF alternative executive director Sami Geadah came as Lebanon grapples with its worst economic crisis since the 1975-1990 civil war. The meeting served to “congratulate Lebanon on the formation of a new government,” Wazni said on Twitter afterwards. He had told AFP earlier that it was “a courtesy visit... to get to know the IMF team”. “The discussions will not focus on an economic rescue plan, which is being prepared (separately) inside government,” he added. It follows a meeting yesterday between Wazni and a delegation from the World Bank led by its regional director Saroj Kumar Jha. Wazni assumed the post of finance minister on Tuesday with the formation of a long-awaited cabinet that faces huge economic and political challenges. The previous government resigned on October 29, two weeks into a nationwide protest movement demanding the removal of politicians deemed incompetent and corrupt. Wazni comes into the post at a time when the plummeting Lebanon pound has lost over a third of its value against the dollar in the parallel market. Lebanese banks are tightening restrictions on dollar transactions amid a liquidity crunch. The economic downturn has raised questions over whether Lebanon will turn to the IMF for a bailout — an option the government has yet to comment on but which some officials regard as inevitable. Last month, former prime minister Saad Hariri discussed a possible economic rescue plan with the heads of the IMF and the World Bank, further fuelling speculation of a bailout. If Lebanon does turn to the IMF it may have to increase its value-added tax, slash subsidies to the state-owned electricity company, tackle rampant corruption and enact a raft of structural reforms, according to previous IMF recommendations. — AFP Related Articles Read more: Malay Mail

Lebanon finance minister.?😂😂😂

UK to hold emergency response meeting over China virus | Malay MailLONDON, Jan 24 — The British government will hold an emergency response meeting today over the deadly virus that has infected hundreds in China and spread to other countries. A government spokesman said Britain was “well prepared” to deal with emerging threat, stressing that “there remain...

LEM establishes new production plant in Penang | Malay MailKUALA LUMPUR, Jan 24 — Switzerland-based electrical measurement company LEM is investing between CHF 5 million (RM21 million) and CHF 10 million to establish a new production plant in Penang in order to meet growing demand from its customers in the industrial and automotive sectors. In a...

Nepal confirms first case of new coronavirus | Malay MailKATHMANDU, Jan 24 — A Nepali student home from China tested positive for the new coronavirus, an official in Kathmandu said today, making it the first confirmed case in the Himalayan nation. “One patient tested positive for coronavirus. He is a Nepali student studying in China,” Mahendra...

Egypt starts screening travellers from China for new coronavirus | Malay MailCAIRO, Jan 23 — Egypt’s Cairo airport started screening passengers arriving from China for signs of the new coronavirus outbreak, airport sources said today. There are doctors and health monitors in arrival halls equipped with medical devices needed to examine passengers coming from China, the...

Virus silences Lunar New Year celebrations in Beijing | Malay MailBEIJING, Jan 25 — A woman praying alone in front of shut temple gates was one of the only signs of Lunar New Year observances at Beijing’s Lama Temple on Saturday, as fears over a deadly new virus mount in China. The popular Tibetan Buddhist temple, which had more than 80,000 visitors during...

UK’s Johnson hails ‘new chapter’ as he signs EU divorce treaty | Malay MailLONDON, Jan 25 — Prime Minister Boris Johnson yesterday hailed “a new chapter” in Britain’s history as he signed its divorce treaty with the EU, clearing another hurdle before the country exits the bloc next Friday. It allows Britain to end its decades-long membership of the European Union...



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