Lebanon’s President Advocates for Essential Economic Reforms
President Joseph Aoun of Lebanon has asserted the importance of implementing economic reforms advised by the IMF. The IMF emphasized urgent measures, including creating a unified data center for the Finance Ministry and revising banking laws. Aoun also highlighted the need for appointing a president for the Central Bank and maintaining diligent financial oversight within the government.
During a recent cabinet meeting, President Joseph Aoun of Lebanon emphasized the necessity of implementing economic reforms as advised by the International Monetary Fund (IMF). Since assuming office in January, Aoun has prioritized restoring confidence in the nation’s economy.
In discussions with an IMF delegation, President Aoun noted the urgency of solidifying a reform program before summer, following previous unsuccessful attempts. According to the National News Agency (NNA), the IMF underscored vital measures such as establishing a unified data center for the Finance Ministry and revising the Banking Secrecy Law, as well as restructuring legislation for the banking sector.
Additionally, Aoun relayed that the IMF advised the government to appoint a new president for the Banque du Liban, Lebanon’s Central Bank. Furthermore, he reaffirmed the approval of the 2025 state budget, directing the finance minister to vigilantly oversee expenditures and provide quarterly financial reports.
In conclusion, President Joseph Aoun of Lebanon has underscored the critical need for economic reforms as recommended by the IMF. Significant actions such as establishing a unified data center and revising banking laws have been identified as essential for restoring confidence in Lebanon’s economy. Moreover, appointing a new president for the Banque du Liban and rigorous fiscal oversight are crucial steps for the country’s progress.
Original Source: anba.com.br
