Lebanon’s President Joseph Aoun highlights the need for IMF-recommended economic reforms to restore confidence. Key reforms include establishing a unified data center, amending the Banking Secrecy Law, and appointing a Central Bank president. Aoun also emphasizes fiscal accountability with a focus on the 2025 state budget.
During a recent Cabinet meeting, Lebanese President Joseph Aoun emphasized the necessity for economic reforms advocated by the International Monetary Fund (IMF) to rebuild confidence in the country. In office since January, Aoun noted that he met with an IMF delegation, which underscored the urgent need to finalize a reform program before the summer, referencing previous failures to do so.
The IMF outlined several key reforms including the creation of a unified data center for the Ministry of Finance, amendments to the Banking Secrecy Law, and legislation for restructuring the banking sector. Furthermore, Aoun reported that the IMF delegation insisted on appointing a new president for the Central Bank of Lebanon (Banque du Liban).
Additionally, Aoun reminded his cabinet of the approval of the 2025 state budget during an earlier meeting, urging the finance minister to closely monitor expenditures and provide quarterly financial reports. This structured approach aims to enhance fiscal accountability in light of Lebanon’s ongoing economic challenges.
The Lebanese government is under pressure to implement IMF-recommended reforms, including the establishment of a unified financial data center and restructuring the banking sector. President Aoun’s administration emphasizes the importance of fiscal accountability and quick appointment of a Central Bank president, all aimed at restoring confidence and stabilizing the economy.
Original Source: anba.com.br
