Washington: The Lebanese official delegation, led by Finance Minister Yassin Jaber, participated in the spring meetings of the International Monetary Fund (IMF) and the World Bank in Washington. The meetings resulted in affirming Lebanon's commitment to reforms aimed at recovery and reassuring parties that the benefits of such efforts will primarily serve the Lebanese people, aligning with domestic interests ahead of external demands.
According to National News Agency - Lebanon, Jaber, representing the Lebanese government, emphasized the country's dedication to economic and institutional reform. He highlighted that Lebanon is presented with a historic opportunity to regain the trust of both the international community and its citizens. The Finance Minister commended the Lebanese Parliament for passing the law to lift banking secrecy, which he sees as a vote of confidence in the government's reform plan by 87 deputies.
Jaber mentioned that the new government, supported by the newly elected president, has initiated a package of structural reforms. These include the approval of the 2025 budget, reforms to the banking secrecy law, the development of modern tax laws, and the enhancement of governance and monitoring within state institutions, particularly in the energy, aviation, and telecommunications sectors.
During meetings with OPEC Fund Head Abdul Hamid Khalifa, Jaber received expressions of interest in financial and technical support for Lebanon. He also met with IMF Deputy Managing Director Nigel Clark, who expressed optimism about Lebanon's potential to achieve financial and banking reform, and to foster an environment conducive to investment and social spending that would enhance stability.
In a meeting for MENA countries chaired by the head of the IMF, Jaber sought support for Lebanon, which is experiencing severe financial and humanitarian crises. He thanked Saudi Arabia and Qatar's finance ministers for their supportive statements towards Lebanon.
Jaber also reported a "successful meeting" with Mohammed Al-Jasser, President of the Islamic Development Bank, discussing future cooperation prospects.
The Lebanese delegation concluded its Washington meetings with a roundtable dialogue on financing recovery and reconstruction through the Lebanon Emergency Assistance Project (LEAP). This dialogue included international parties from the World Bank, IMF, and representatives from international and Arab organizations. Discussions centered on financing reconstruction and recovery projects, setting funding priorities, and allocating resources to enhance economic recovery.
France initiated contributions with 75 million euros, and the World Bank will continue to engage with other parties willing to assist in determining their contributions.