Lebanon’s President Joseph Aoun has advocated for implementing IMF-recommended economic reforms to restore economic confidence. Key reforms discussed include establishing a unified data center, amending banking laws, and appointing a central bank president. Aoun also urged fiscal discipline from the finance minister following the approval of the 2025 budget.
In a cabinet meeting on Thursday, Lebanon’s President Joseph Aoun emphasized the urgency for implementing economic reforms as recommended by the International Monetary Fund (IMF). Since assuming office in January, Aoun has been pivotal in discussing measures aimed at restoring confidence in the country’s economy, as reported by state news agency NNA.
During the meeting, Aoun revealed his recent discussions with the IMF delegation, which underscored the necessity of finalizing an economic program before summer, noting previous unsuccessful attempts. The delegation highlighted several key reforms, including the establishment of a unified data center for the Finance Ministry and amendments to the Banking Secrecy Law.
Furthermore, the IMF emphasized the need for the government to appoint a president for the Central Bank of Lebanon and to enact a law related to the restructuring of the banking sector. Aoun reiterated the importance of fiscal discipline by reminding the finance minister to track expenditures and provide quarterly financial reports following the approval of the 2025 state budget in a previous meeting.
In conclusion, President Joseph Aoun’s recent cabinet meeting emphasizes Lebanon’s urgent need for IMF-backed economic reforms to restore confidence. Key proposals include establishing a unified data center, amending financial laws, and appointing a central bank president. With a focus on fiscal responsibility, these measures are vital for Lebanon’s economic stabilization and growth.
Original Source: anba.com.br
