Lebanon aid depends on reform – IMF
Georgieva sets banking bail-in and further audit of central bank as conditions for emergency aid
The International Monetary Fund is willing to aid Lebanon but the country’s authorities must make wide-ranging economic reforms, IMF managing director Kristalina Georgieva says.
The country’s capital Beirut was hit by a massive explosion on August 4, killing more than 150 people and causing damage estimated in billions of dollars. Lebanon’s government had already appealed to the IMF for an aid package worth $10 billion on May 1, amid a growing economic crisis.
In response to the original aid
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