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IMF, Lebanon reach staff-level funding deal, subject to reforms
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BEIRUT, 08 April 2022, (TON): The International Monetary Fund said “it had reached a staff-level agreement with Lebanon for a four-year extended fund facility that would however only get full approval from the fund if Beirut enacts a series of reforms.”
An agreement with the IMF is seen as vital for Lebanon to begin exiting a crippling economic and financial meltdown that marks its most destabilising crisis since the 1975-90 civil war.
IMF said in a statement “the extended fund arrangement would run over 46 months and Lebanon had requested access to the equivalent of around $3 billion.”
Lebanese authorities had agreed, prior to the IMF board considering whether to approve the deal, to complete eight reform measures.
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