Report says IMF talks made great progress, initial agreement to be signed soon

A preliminary agreement with the International Monetary Fund is likely to be reached soon, as the negotiations have made an important progress, according to al-Joumhouria newspaper.

The daily said Wednesday that, according to its sources, an initial agreement might be signed in the upcoming hours, as Prime Minister Najib Miqati will meet tomorrow with the IMF delegation, before the team leaves Friday to the U.S.

An agreement on the framework of the program has been reached, while negotiations about the IMF's preconditions will resume, al-Joumhouria said.

The sources told the daily that the IMF has asked Lebanon to issue the needed reform laws, as a prerequisite to implement the program that will be divided into phases.

Talks will resume online on Monday, the newspaper added.