BEIRUT: The International Monetary Fund renewed its criticism of Lebanon Friday for failing to enact reforms demanded by creditors in return for releasing billions of dollars in emergency bailout loans.
“Lebanon has not undertaken the urgently needed reforms, and this will weigh on the economy for years to come,” said the IMF’s Ernesto Ramirez Rigo in a statement at the end of a visit to Beirut.
since late 2019, Lebanon has been mired in an economic crisis the World Bank has described as one of the worst in recent world history, pushing most of the population into poverty.
In April 2022, Lebanon and the IMF reached conditional agreement on a $3-billion-dollar loan pacakage to bail out the economy.
But politicians have yet to enact the painful reforms demanded to begin the 46-month financing program.
A seasonal uptick in tourism has increased foreign currency inflows, Ramirez Rigo said. Most tourists are Lebanese expatriates returning home for the summer holidays.
“It gives the impression that the economy has bottomed out of the crisis and is leading to complacency. However, receipts from tourism and remittances fall far short of what is needed,” he said.
The IMF deal is conditional on a series of measures, including passing a 2024 budget, unifying Lebanon’s multiple exchange rates, restructuring the banking sector and implementing formal capital controls.
Lebanon has taken some steps, including a belated 2023 budget, but the IMF has said repeatedly that they are not enough.
On July 31, Lebanon’s former central bank chief Riad Salameh, who is wanted for alleged financial crimes in several European countries, left office with no designated successor in place.
First vice-governor Wassim Manssouri has taken over on a temporary basis, but divided politicians have failed to agree on a permanent replacement, creating another power vacuum in a country that also has no president and is ruled by a caretaker government.
In late June, the IMF warned that Lebanon’s failure to implement reforms could have “irreversible” consequences for its economic and social stability.
IMF criticizes Lebanon for failure to adopt reforms
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IMF criticizes Lebanon for failure to adopt reforms
- “Lebanon has not undertaken the urgently needed reforms, and this will weigh on the economy for years to come,” said the IMF’s Ernesto Ramirez Rigo
- A seasonal uptick in tourism has increased foreign currency inflows, Ramirez Rigo said
US, France, Germany, UK urge ‘de-escalation’ in Syria: joint statement
WASHINGTON: The United States and its allies France, Germany and Britain called Sunday for “de-escalation” in Syria and urged in a joint statement for the protection of civilians and infrastructure.
“The current escalation only underscores the urgent need for a Syrian-led political solution to the conflict, in line with UNSCR 2254,” read a statement issued by the US State Department, referencing the 2015 UN resolution that endorsed a peace process in Syria.
Britain ups Gaza aid ahead of donor conference
- Aid organizations accuse Israel of preventing trucks from entering Gaza in large enough numbers to alleviate a humanitarian crisis in the war-torn territory
LONDON: Britain will provide an additional 19 million pounds ($24 million) in humanitarian aid to Gaza, the international development minister said Monday, calling for Israel to give greater access ahead of a key conference on the conflict.
“Gazans are in desperate need of food, and shelter with the onset of winter,” the minister, Anneliese Dodds, said in a statement as she headed for a three-day visit to the region, including an international conference in Cairo Monday on the Gaza Strip’s aid needs.
“The Cairo conference will be an opportunity to get leading voices in one room and put forward real-world solutions to the humanitarian crisis,” she added.
“Israel must immediately act to ensure unimpeded aid access to Gaza.”
Aid organizations accuse Israel of preventing trucks from entering Gaza in large enough numbers to alleviate a humanitarian crisis in the war-torn territory.
The new UK funding will be split into 12 million pounds for the UN Office for the Coordination of Humanitarian Affairs (OCHA) and the World Food Programme (WFP), and seven million pounds for the UN agency for Palestinian refugees (UNRWA), the statement said.
UNRWA announced Sunday it had halted the delivery of aid through the key Kerem Shalom crossing between Israel and Gaza because of safety fears, saying the situation had become “impossible.”
Britain has committed to spending a total of 99 million pounds this year in humanitarian aid to the Palestinian territories, the government said.
After Dodds’s Cairo stop, the minister is to travel to the Palestinian territories and Israel.
Islamist militant group Hamas’s attack on Israel on October 7, 2023 resulted in the death of 1,207 people on the Israeli side, mostly civilians, according to an AFP tally of Israeli official figures, which includes hostages killed in captivity.
Israel responded with a military offensive that has killed at least 44,429 in Gaza, most of them civilians, according to figures from the Hamas-run territory’s health ministry that the UN considers reliable.
Airstrikes in northwestern Syria kill 25 people, says Syria’s White Helmets
- The Syria offensive began Wednesday, the same day a truce between Israel and Lebanon’s Hezbollah came into effect
DAMASCUS: The Syrian rescue service known as the White Helmets said early on Monday on X that at least 25 people have been killed in northwestern Syria in airstrikes carried out by the Syrian government and Russia on Sunday.
In Blinken call, Turkiye backs moves to ease Syria tension
- The flareup has also seen pro-Turkish militants groups attacking both government forces and Kurdish YPG fighters in and around the northern Aleppo province over the weekend, a Syrian war monitor said
ISTANBUL: Turkiye’s top diplomat and US Secretary of State Antony Blinken spoke Sunday about the “rapidly developing” conflict in Syria where militants have made gains.
Blinken and Turkish Foreign Minister Hakan Fidan discussed by telephone “the need for de-escalation and the protection of civilian lives and infrastructure in Aleppo and elsewhere,” State Department spokesman Matthew Miller said in a statement.
The call came after Syrian militants and their Turkish-backed allies launched their biggest offensive in years, seizing control of Syria’s second-largest city Aleppo from forces loyal to President Bashar Assad.
According to a Turkish foreign ministry source, Fidan told Blinken Ankara was “against any development that would increase instability in the region” and said Turkiye would “support moves to reduce the tension in Syria.”
He also said “the political process between the regime and the opposition should be finalized” to ensure peace in Syria while insisting that Ankara would “never allow terrorist activities against Turkiye nor against Syrian civilians.”
The flareup has also seen pro-Turkish militant groups attacking government forces and Kurdish People’s Defense Units (YPG) fighters in and around Aleppo, a Syrian war monitor said.
Turkiye sees the YPG as an offshoot of the banned Kurdistan Workers’ Party (PKK), which has led a decades-long insurgency against Ankara.
The Syria offensive began Wednesday, the same day a truce between Israel and Lebanon’s Hezbollah came into effect.
More than 400 people have so far been killed in the offensive, most of them combatants, a Syrian war monitor said.
The State Department said the two also discussed “humanitarian efforts in Gaza and the need to bring the war to an end” as well as efforts to secure the release of Israeli hostages held by Hamas.
Fidan said Israel “should keep its promises in order for the Lebanon ceasefire to become permanent” and called for a ceasefire in Gaza “as soon as possible.”
The pair also discussed Ukraine and South Caucasus, the source said.
Russia says helping Syrian army ‘repel’ insurgents in three northern provinces
- Russia launched airstrikes on militant targets in Aleppo for the first time since 2016
MOSCOW: Russia on Sunday said it was helping the Syrian army “repel” armed insurgents in three northern provinces, as Moscow seeks to support the government led by its ally Bashar al-Assad.
An Islamist-dominated militant alliance launched an offensive against the Syrian government on Wednesday, with Syrian forces losing control of the city of Aleppo on Sunday, according to a war monitor.
“The Syrian Arab Army, with the assistance of the Russian Aerospace Forces, is continuing its operation to repel terrorist aggression in the provinces of Idlib, Hama and Aleppo,” the Russian military said in a briefing on its website.
“Over the past day, missile and bombing strikes were carried out on places where militants and equipment were gathered,” it said in the same briefing, without saying where or by whom.
It said at least “320 militants were destroyed.”
Russia announced earlier this week that it was bombing militant targets in the war-torn country, with Russian warplanes striking parts of Aleppo — Syria’s second city — for the first time since 2016, according to the Britain-based Syrian Observatory for Human Rights.
Moscow is Syrian leader Assad’s most important military backer, having turned the tide of the civil war in his favor when it intervened in 2015.
