According to the IMF, talks in Lebanon are progressing, a staff mission was carried out this month

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The International Monetary Fund (IMF) logo is seen in front of the main building in Washington, the United States, September 4, 2018. REUTERS/Yuri Gripas

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WASHINGTON, March 17 (Reuters) – The International Monetary Fund continues to work with the Lebanese authorities on economic reforms in the country, where a 2019 financial crisis sent the currency crashing and impoverished most of the population, and another IMF mission -Stabs is planned there this month. said spokesman Gerry Rice on Thursday.

“We remain closely connected. We are trying to work with the Lebanese authorities to formulate a reform program that can address the serious economic and financial challenges facing Lebanon,” Rice said.

“I would say the discussions are progressing well, but there is a lot of work to be done in the period ahead. Lebanon’s challenges are deep and complex. They will take time and commitment,” he said, but gave no further details.

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The visit by IMF staff was first announced by Lebanese Deputy Prime Minister Saade Chami earlier this month. Continue reading

Lebanese officials held talks with the IMF last month with the aim of reaching a deal seen as the only way to secure the country’s exit from the crisis.

An IMF technical team visited Lebanon from February 28 to March 1 to take stock of the work already done and to outline the next steps needed to move forward with an IMF program.

Sources briefed on the February talks previously told Reuters that they would include lifting or amending the country’s strict banking secrecy rules, which have in the past been credited with boosting Lebanon’s economy but are now being used as a disguise for ill-gotten gains profits and enabling tax evasion.

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Reporting by Andrea Shaal; Editing by David Gregorio

Our standards: The Thomson Reuters Trust Principles.

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