The International Monetary Fund announced that the Lebanese authorities have not implemented the necessary urgent economic reforms, which will have negative effects on the economy in the coming years.

The Fund criticized the lack of political Will to take difficult decisions, even if they are of great importance, to start the reform process, stressing that this situation weakens the country's banking sector.

The mission explained in its communiqué at the end of its visit to Lebanon that comprehensive political decisions must be taken to remedy the financial deficit and begin the process of restructuring the banking system.

The International Monetary Fund stressed in its statement that there is an opportunity to implement comprehensive reforms to improve governance and accountability at the Central Bank of Lebanon, but that the government must implement an integrated financial strategy to restore the ability to bear the debt burden and ensure social life and develop infrastructure.