An IMF team is headed to Lebanon to assess the country’s economy, a spokesperson for the Fund said Thursday, (March 6) in Washington, D.C.
The Fund will also be ready to help Lebanon after the formation of a new government. Lebanon needs foreign funds to pay the reconstruction bill from last year’s war between Israel and Hezbollah.
“On Lebanon is that an IMF team will visit Lebanon, very soon, March 10th to 14th. this mission, is aimed at, of course, meeting the new authorities, discussing Lebanon's recent economic developments, its reconstruction needs and the authority's economic priorities in the near term. This is a fact-finding mission that will take place. but beyond this fact-finding mission, as we look ahead, future next steps could include helping the authorities to formulate a comprehensive economic reform, program. Our staff continues to be, closely engaged with the authorities. We are providing policy advice and capacity development to help the authorities efforts to rebuild Lebanon's economy and institutions in coordination with other, international partners,” said IMF spokesperson Julie Kozack.
Kozack also said the Fund’s Executive Board will be taking up Egypt next week. Part of assistance to Egypt could take the form of a Resilience and Sustainability Facility, or RSF, designed in part to help countries tackling climate change, adding that she could not yet confirm how large it will be. But it would have economic reforms at its core.
“On March 10th, our Executive Board will be discussing Egypt's, Article Four consultation and the fourth review under the EFF. It will also be discussing at the same time Egypt's request for an RSF, the Resilience and Sustainability Facility. Subject to completion, by the Executive Board, Egypt. the authorities would have access to $1.2 billion under the EFF, so under the EFF program. And then in addition, subject again to approval by our executive board, the RSF would provide, the size of the RSF would be about 1.3 billion USD. Regarding the RSF, like all of the IMF programs, the RSF is also delivered in, in tranches. So it wouldn't be, it's not one lump sum upfront. It is a phased, program where tranches are disbursed on the basis of conditions being met.”
Finally as the IMF and World Bank prepare for their Spring Meetings next month in Washington, the Fund is looking forward to Thailand being the host of the 2026 Annual Meetings in Bangkok.
“The Fund, the IMF staff are working hand in hand with the Thai authorities to make this a highly successful, event and showcasing the significant strides that Thailand has made since it last hosted our annual meetings in 1991. So it will be 25 years when we get to 2026. The Managing Director recently met with Bank of Thailand's governor Sethaput, at the Al-ula conference in Saudi Arabia they discussed then preparations for the Annual Meetings. And agreed that it would be, a very good opportunity to showcase on the global stage, the region's dynamism and economic activities. And, of course, the meetings will also allow Thailand to position itself as a key contributor to the economic and international economic dialog, and to gather views and experiences from countries, throughout the membership of the IMF and the World Bank,” Kozack told reporters.
A copy of the full transcript is available at IMF.org
