Lebanon’s President Joseph Aoun underscores the need for implementing IMF-recommended economic reforms during a cabinet meeting. Key proposals include establishing a unified data center, amending banking laws, and appointing a central bank president. Aoun also stressed the importance of monitoring state budget expenditures effectively as Lebanon experiences a deceleration in price growth.
In a recent cabinet meeting, Lebanon’s President Joseph Aoun emphasized the necessity for implementing economic reforms recommended by the International Monetary Fund (IMF) to regain national confidence. Having assumed office in January after his parliamentary election, Aoun noted the critical need for these reforms following a meeting with an IMF delegation.
During discussions, the IMF delegation reiterated the urgency of finalizing a reform program prior to the summer, referencing previous failed attempts to initiate necessary changes. Key proposals include establishing a unified data center for the Ministry of Finance, revising the Banking Secrecy Law, and restructuring the banking sector. Furthermore, the IMF urged the Lebanese government to appoint a new president for the Central Bank of Lebanon, known as Banque du Liban.
Additionally, President Aoun highlighted the importance of the recently approved 2025 state budget, calling on the finance minister to effectively monitor expenditures and provide quarterly financial reports.
Despite these efforts, Lebanon has experienced a slowdown in price growth, indicating challenges ahead in stabilizing the economy.
In conclusion, President Joseph Aoun’s cabinet meeting emphasized the critical need for Lebanon to undertake essential reforms as outlined by the IMF to restore economic stability. The focus on establishing a unified data system, reforming banking laws, and appointing a central bank president are key steps identified to enhance financial governance. As Lebanon navigates these reforms, careful monitoring of the state budget and expenditures remains paramount.
Original Source: anba.com.br
