Economy12 hours ago (Mar 26, 2022 06:45AM ET)
© Reuters. FILE PHOTO: Lebanon’s Prime Minister-Designate Najib Mikati speaks after meeting with Lebanon’s President Michel Aoun, at the presidential palace in Baabda, Lebanon August 16, 2021. Dalati Nohra/Handout via REUTERS
DOHA (Reuters) -A delegation from the International Monetary Fund will start talks in Lebanon on March 29, Prime Minister Najib Mikati said on Saturday, expressing hope of a deal in the coming weeks.
“Next Tuesday they will start their mission in Lebanon,” he told reporters on the sidelines of the Doha Forum in Qatar.
“Hopefully … by the end of two weeks we will see the light,” Mikati said.
The Lebanese pound has lost more than 90% of its value since 2019, when the financial system collapsed, plunging the majority of Lebanese into poverty, according to UN agencies.
Reforms demanded by donors to provide assistance to Lebanon include steps to tackle widespread corruption, tax dodging and government deficits – the root causes of the meltdown.
“We don’t have an option, it is an obligatory path to negotiate with the IMF and to achieve an agreement,” he added.
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.