The IMF will send staff to Lebanon and Tunisia this month for meetings and talks on economic aspects as both the countries are scrambling with severe financial challenges.
IMF Spokesman Gerry Rice told reporters that talks with Lebanon on aid to address the severe financial challenges are “progressing well.”
“There is a need for extensive work in Lebanon because its economic challenges are deep and complex,” Rice added.
In 2020, Lebanon defaulted on its sovereign debt for the first time in its history. Last month, the IMF expressed readiness to negotiate on a program to help pull Lebanon out of its economic crisis.
Lebanon is going through its worst economic situation and its currency already dropped significantly with inflation hitting triple-digit and poetry climbing unprecedentedly.
According to Rice, another IMF team will visit Tunisia this month for talks with the authorities aimed at seeking “good progress that has been made in understanding their reform policies.”
In mid-November, Tunisia requested an IMF loan program for an economy plagued by low growth as well as high public debt, inflation and unemployment.
The governments of the two countries (Lebanon and Tunisia) for the past several months have asked the IMF for help but yet to reach any formal agreement for loans or other economy supports.
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