Lebanon, without strategy, negotiates with the IMF

Beirut

Two and a half years after the cessation of payments by Lebanese banks in October 2019, which brought the Lebanese crisis to light, the authorities still have no plan to get out of it.

A 15-day mission from the International Monetary Fund (IMF) began on January 24, via videoconference, to consider a credit facility of up to $4 billion

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“This kind of mission serves to start negotiations on the basis of a stabilization and recovery program drawn up by the authorities of the country concerned.

In this case, there is none.

We are still discussing ideas

, ”says an informed source, knowing that public finances are adrift.

The draft budget for 2022 made public last week is decried by all economists as absolutely not responding to the gravity of the situation.

Destruction of financial and human capital

These delays are not fortuitous.

Rather than clearing the losses and laying the groundwork for a new economic model, the

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