Unique-Lebanon to renew IMF talks, start reforms, draft coverage assertion says By Reuters


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© Reuters. FILE PHOTO: Lebanon’s new Prime Minister Najib Mikati walks throughout an official ceremony to mark his assumption of duties on the Authorities Palace in Beirut, Lebanon September 13, 2021. Dalati Nohra/Handout through REUTERS

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By Laila Bassam

BEIRUT (Reuters) – Lebanon’s new cupboard is dedicated to resuming talks with the Worldwide Financial Fund for a short- and medium-term rescue programme, a draft of its coverage assertion obtained by Reuters confirmed on Wednesday.

Prime Minister Najib Mikati’s authorities is because of meet on Thursday to approve the draft, which can then go to a vote of confidence in parliament.

The federal government, which was lastly agreed on Friday after a yr of political battle over cupboard seats, should deal with one of many worst financial depressions in historical past.

The draft coverage assertion mentioned the federal government would start implementing reforms because it resumes talks with the IMF, which broke down final summer season.

It mentioned the federal government would resume negotiations with collectors to achieve an settlement on “a mechanism to restructure the general public debt”, and put in place a plan to reform the banking sector.

The assertion mentioned the federal government was dedicated to all of the articles set out in a French reform initiative and would “renew and develop” a monetary restoration plan that was drawn up by the earlier authorities.

The federal government will even work with parliament to go a capital management regulation, the draft doc mentioned.

It’ll maintain parliamentary elections due subsequent spring on time, the draft mentioned.

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