Four years into crisis, Lebanon's leaders hope tourism boom will help bypass reforms in IMF bailout

Lebanon's political elites, seeking to avoid the tough reforms demanded by the IMF, are deliberately implementing a "shadow plan" to undermine the recovery effort and shift the burden onto the already struggling Lebanese people, jeopardizing the country's chances for economic revival and international investments.

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9/15/2023

IMF: Lebanon Still Faces Major Economic Hurdles 4 Years After Crisis Began

Lebanon continues to face enormous economic challenges, including a collapsed banking sector, eroding public services, deteriorating infrastructure, and worsening poverty, according to the International Monetary Fund (IMF). The IMF called for comprehensive policy decisions to address the country's external and fiscal deficits, as well as the restructuring of the banking sector and state-owned companies. Lebanon's political class has been resistant to implementing economic and financial reforms, despite ongoing talks with the IMF.