NNA - The Lebanese official delegation headed by Finance Minister Yassin Jaber, took part in the spring meetings of the International Monetary Fund and the World Bank in Washington, with a remarkable outcome in terms of affirming Lebanon's commitment to reforms leading to recovery and reassuring all parties that the fruits of this effort will benefit the Lebanese people first and foremost, a domestic interest before being an external demand.
On behalf of the Lebanese government, Jaber emphasized commitment to the path of economic and institutional reform, highlighting that "the country faces a historic opportunity to regain the confidence of both the international community and Lebanese citizens."
Commending the Lebanese Parliament's passing of the law to lift banking secrecy, the Finance Minister considered that "the 87 deputies' vote on it represented a vote of confidence in the government's reform plan."
Jaber indicated that the new government, with the support of the newly elected president, has embarked on implementing a package of structural reforms, including the approval of the 2025 budget, the launch of reforms to the banking secrecy law, the development of modern tax laws, and the strengthening of governance and monitoring within state institutions, particularly in the energy, aviation, and telecommunications sectors.
During Jaber's "fruitful" meetings with OPEC Fund Head Abdul Hamid Khalifa, the latter expressed the fund's interest in supporting Lebanon financially and technically in several areas. Jaber also held another meeting with the Deputy Managing Director of the International Monetary Fund, Nigel Clark, who expressed great optimism that Lebanon, through the available opportunities and the support granted, would achieve not only financial and banking reform, but also create a favorable environment for investment and social spending that would enhance stability on multiple levels.
Participating in a meeting of MENA countries chaired by the head of the International Monetary Fund on the region's economies, Jaber called for supporting Lebanon, "which is suffering from one of the most serious financial and humanitarian crises." He also thanked the finance ministers of Saudi Arabia and Qatar for their statements calling for support for Lebanon.
Jaber also referred to a "successful meeting that opens up prospects for future cooperation" with Mr. Mohammed Al-Jasser, President of the Islamic Development Bank.
Concluding its meetings in Washington, Lebanon's delegation participated in a dialogue roundtable for Lebanese financing in the field of recovery and reconstruction through the Lebanon Emergency Assistance Project (LEAP), which brought together relevant international parties from the World Bank and the International Monetary Fund, along with representatives of international and Arab organizations, bodies, funds, and countries. Discussions focused on ways to finance reconstruction and recovery projects, determine funding priorities, and allocate the necessary resources to implement projects that contribute to enhancing economic recovery.
It is noteworthy that France opened the contributions by providing 75 million euros, while the World Bank will continue to follow up with all other parties that have expressed a willingness to assist, in order to determine their contributions.
============R.Sh.
