President Joseph Aoun of Lebanon indicated the necessity for rapid implementation of IMF-recommended economic reforms to restore confidence in the country. Key reforms include a unified data center for the Finance Ministry and banking sector restructuring laws. Aoun also emphasized the importance of monitoring the state budget as efforts to stabilize the economy continue.
In a recent cabinet meeting, President Joseph Aoun emphasized the urgent need for Lebanon to implement the economic reforms suggested by the International Monetary Fund (IMF) to regain confidence in the nation. Since his election in January, Aoun, a former army chief, has been focusing on economic stability amidst ongoing financial challenges.
During the Thursday meeting, President Aoun reported discussions with an IMF delegation, which highlighted the necessity of finalizing an economic program before the summer due to previous unsuccessful attempts. The IMF urged the establishment of a unified data center within the Finance Ministry and recommended amendments to the Banking Secrecy Law along with legislation for banking sector restructuring.
Additionally, the delegation stressed the importance of appointing a new president for the Central Bank of Lebanon, known as Banque du Liban. Aoun also noted the recent approval of the 2025 state budget and called upon the finance minister to closely monitor expenditures, emphasizing the need for quarterly financial reports to ensure proper fiscal management.
In summary, President Joseph Aoun’s leadership is currently focused on crucial economic reforms that the IMF has identified as essential for Lebanon’s recovery. The establishment of a unified data center, revisions to banking laws, and the appointment of a new Central Bank president are pivotal steps being considered. These reforms aim to stabilize Lebanon’s economy and restore both national and international confidence.
Original Source: anba.com.br
