International Monetary Fund Reaches Agreement with Lebanon

Courtesy of Horizons International on Facebook.

On April 7, the International Monetary Fund reached an agreement with Lebanon for an economic reform plan. It could unlock $3 billion in funding over several years.

But the deal depends on Lebanese authorities making several reforms. They must restructure the banking sector, and improve transparency.

Pierre Houssney with Horizons International says, “There’s a sense that we’ve seen this before, for example, back in 2018. It was the summer before an election. We had $11 billion of foreign aid come in. And we saw the politicians use that to basically rig the elections, stay in power, and embezzle the money.”

“I personally am a little bit too jaded to see this as good news, because we’re coming up on some really important elections.”

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SOURCE: Mission Network News, Kevin Zeller

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