The International Monetary Fund is sending a mission to Lebanon next week as the new government seeks to lift the country out of its protracted financial crisis, a senior fund official said on Thursday.
Describing mission from the March 10 to March 14 as a “fact-finding” one, IMF communications director Julie Kozack said the fund's staff will hold meetings with Lebanese authorities to discuss their near-term priorities, the country's reconstruction needs and recent economic developments.
“Our staff continues to be closely engaged with the authorities,” Ms Kozack told reporters at the fund's headquarters in Washington. “We are providing policy advice and capacity development to help the authorities' efforts to rebuild Lebanon's economy and institutions in co-ordination with other international partners.”
The new Lebanese government is expected to hold negotiations with the IMF for a new programme and a deal on Beirut's public debt and financial default, Reuters reported last month, citing a policy statement.
According to the report, Lebanon's government will seek to revive its economy by restructuring its banking sector.
Ms Kozack did not confirm if the IMF and Lebanon are in negotiations on a deal, but told The National that steps following the mission will help the new government “to formulate a comprehensive economic reform programme”.
At the conclusion of its Article IV consultations with Lebanon last year, IMF staff said that a lack of action on necessary economic reforms continued to “exert a heavy toll” on the country's economy and civilians.
Political developments in Lebanon have significantly changed in recent months, after the brutal conflict between Israel and Hezbollah. The World Bank estimates Lebanon suffered more than $5 billion in economic losses from the war.
In January, Lebanon's parliament elected army chief Joseph Aoun as President, ending a power vacuum that had lasted more than two years.
Lebanon, whose economy has been in crisis since 2019, reached a deal with the IMF in 2022 but failed to deliver on the contingent reforms.
UAE currency: the story behind the money in your pockets
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Smalling (28'), Lukaku (70')
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Name: Yousef Al Bahar
Advocate at Al Bahar & Associate Advocates and Legal Consultants, established in 1994
Education: Mr Al Bahar was born in 1979 and graduated in 2008 from the Judicial Institute. He took after his father, who was one of the first Emirati lawyers
MATCH INFO
Inter Milan v Juventus
Saturday, 10.45pm (UAE)
Watch the match on BeIN Sports
MEYDAN RESULTS
6.30pm Baniyas (PA) Group 2 Dh125,000 (Dirt) 1,400m
Winner ES Ajeeb, Sam Hitchcock (jockey), Ibrahim Aseel (trainer).
7.05pm Maiden (TB) Dh165,000 (D) 1,200m
Winner Galaxy Road, Antonio Fresu, Musabah Al Muhairi.
7.40pm Maiden (TB) Dh165,000 (D) 1,400m
Winner Al Modayar, Fernando Jara, Ali Rashid Al Raihe.
8.15pm Handicap (TB) Dh170,000 (D) 1,900m
Winner Gundogdu, Xavier Ziani, Salem bin Ghadayer.
8.50pm Rated Conditions (TB) Dh240,000 (D) 1,600m
Winner George Villiers, Tadhg O’Shea, Satish Seemar.
9.25pm Handicap (TB) Dh175,000 (D)1,200m
Winner Lady Parma, Connor Beasley, Satish Seemar
10pm Handicap (TB) Dh165,000 (D) 1,400m
Winner Zaajer, Fernando Jara, Ali Rashid Al Raihe
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The UAE FTA requires following to be kept:
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UAE v Zimbabwe A
Results
Match 1 – UAE won by 4 wickets
Match 2 – UAE won by 5 wickets
Match 3 – UAE won by 25 runs
Match 4 – UAE won by 77 runs
Fixture
Match 5, Saturday, 9.30am start, ICC Academy, Dubai
Dubai Rugby Sevens
November 30-December 2, at The Sevens, Dubai
Gulf Under 19
Pool A – Abu Dhabi Harlequins, Jumeirah College Tigers, Dubai English Speaking School 1, Gems World Academy
Pool B – British School Al Khubairat, Bahrain Colts, Jumeirah College Lions, Dubai English Speaking School 2
Pool C - Dubai College A, Dubai Sharks, Jumeirah English Speaking School, Al Yasmina
Pool D – Dubai Exiles, Dubai Hurricanes, Al Ain Amblers, Deira International School
The%20specs
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What is a calorie?
A food calorie, or kilocalorie, is a measure of nutritional energy generated from what is consumed.
One calorie, is the amount of heat needed to raise the temperature of 1 kilogram of water by 1°C.
A kilocalorie represents a 1,000 true calories of energy.
Energy density figures are often quoted as calories per serving, with one gram of fat in food containing nine calories, and a gram of protein or carbohydrate providing about four.
Alcohol contains about seven calories a gram.
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THE BIO
Favourite author - Paulo Coelho
Favourite holiday destination - Cuba
New York Times or Jordan Times? NYT is a school and JT was my practice field
Role model - My Grandfather
Dream interviewee - Che Guevara
