Young Journalists Club | Latest news of Iran and world

News ID: 45231
Publish Date: 15:06 - 20 February 2020
Tehran 20 February _A team of experts from the International Monetary Fund (IMF) has traveled to Lebanon to provide the debt-ridden country with advice on how to alleviate a deepening economic crisis.

IMF team arrives in Lebanon to give financial advice to govt.TEHRAN, Young Journalists Club(YJC)-The team from the US-based organization met with new Lebanese Prime Minister Hassan Diab after arriving in Beirut on Thursday morning, Lebanese broadcasters LBC and Al Jadeed reported.

The IMF said in a statement that the team would be in Lebanon until Sunday and would provide broad technical advice to the newly-formed government. Beirut has not yet requested financial aid from the fund.

Lebanon has been facing a tough economic situation because of alleged mismanagement and corruption during the past several decades. Protests started in the country in October last year, when the government proposed imposing a tax on WhatsApp calls, along with other austerity measures.

On October 29, the then-Prime Minister Saad Hariri resigned under pressure from the unprecedented protests, creating a political void that lasted until January 21, when Diab assumed office as the country’s new premier.

Diab faces one of the worst crises in his county’s recent history and urgent decisions about the upcoming debt payments, particularly a 1.2-billion-dollar sovereign bond due early next month.

On Wednesday, Parliament Speaker Nabih Berri, an influential politician in the country, proposed the restructuring of Lebanon’s debts as the best solution for looming maturities.

Tags
Your Comment
Name:
Email:
* Comment:
* captcha: