President Joseph Aoun of Lebanon discussed the necessity of economic reforms with his cabinet, emphasizing the need to meet IMF suggestions, including the establishment of a data center and banking law amendments, to restore economic confidence ahead of the summer. Aoun also reiterated the importance of financial oversight linked to the approved 2025 state budget.
President Joseph Aoun of Lebanon emphasized the necessity for economic reforms during a cabinet meeting on Thursday, October 13. He highlighted the importance of implementing the reforms suggested by the International Monetary Fund (IMF) to restore confidence in Lebanon’s economy. Aoun, who has been in office since January, reported on his discussions with the IMF delegation regarding the urgency of finalizing a reform program before the upcoming summer season.
During the meeting, Aoun discussed the IMF’s recommendations, which include establishing a unified data center within the Finance Ministry and amending the Banking Secrecy Law. Furthermore, the IMF urged the Lebanese government to appoint a new president for the Central Bank of Lebanon, known as the Banque du Liban. Aoun also mentioned the need for ongoing financial oversight by the finance minister, particularly concerning the recently approved state budget for 2025, advocating for quarterly expenditure reports.
In summary, President Aoun’s discussions with government officials and the IMF underscore the urgent need for structural reforms aimed at stabilizing Lebanon’s economy. These reforms are critical for regaining economic confidence and ensuring a better financial future for the nation.
In conclusion, the discussions led by President Joseph Aoun highlight the critical steps Lebanon must undertake to implement the IMF’s economic reforms. The focus on establishing a data center, amending key banking laws, appointing new leadership in the Central Bank, and adhering to fiscal oversight through budgetary monitoring are essential measures for rebuilding trust in Lebanon’s economy.
Original Source: anba.com.br
