BREAKING NEWS

IMF hopes Lebanon parliament will approve budget ASAP-finance ministry

By REUTERS

JUNE 24, 2019 16:27

An International Monetary Fund (IMF) mission to Lebanon said it hoped its parliament would approve the draft 2019 state budget as soon as possible, the Lebanese finance ministry said in a statement.

The head of the IMF mission, Chris Jarvis, hoped "parliament would as soon as possible approve the budget in which work happened to reduce the deficit to 7.6% (of GDP), which will help release funds that Lebanon needs from the Cedre conference", said the finance ministry statement, which was issued in Arabic.

Donor states and institutions pledged some $11 billion in financing to Lebanon at the Cedre conference in Paris last year, conditional on the country undertaking long-delayed reforms.

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