Report: IMF Won't Tolerate Further Stalling on Lebanon Reforms
Lebanon resumed negotiations with the International Monetary Fund in “unfavorable” atmospheres for the international lender, al-Joumhouria daily reported on Saturday.
Sources following up on the negotiations told the daily on condition of anonymity that Lebanon's “approach” will not speed up an agreement on a support program from the fund. They said negotiations “could take years, instead of months if leaders remain reluctant to enact reforms.”
But they added the “international lender refuses to waste time and therefore will not wait for long. The Lebanese side faces its last chance and should submit unified numbers of losses and adopt a scientific and accurate approach in everything proposed, otherwise the fund will have no choice but to suspend negotiations,” added the source.
Crisis-hit Lebanon resumed bailout talks on Friday with the International Monetary Fund holding its 17 meeting.
Talks are deadlocked with the IMF as Lebanese leaders seem reluctant to enact reforms.
As Lebanon seeks help from the IMF, arguments are mounting over the scale of total financial losses for the state, central bank and commercial banks.
Source: Naharnet
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