– The International Monetary Fund (IMF) announced today that it has reached an agreement in principle with the Lebanese authorities for an aid plan worth three billion US dollars over four years.
This was reported by the Beirut media citing a note from the IMF in Lebanon, a country hit for more than two years by the worst financial crisis in decades.
According to sources, the funding that could be granted to Lebanon falls under the Extended Fund Facility, and will be subject to approval by the IMF management and its board of directors. “The Lebanese authorities have decided to undertake several key reforms before the IMF council meeting”, reads the note which therefore invites analysts to be cautious with respect to the effective and short-term disbursement of loans.
Source: Ansa
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