U.S. lauds ‘hard work’ after Lebanon, IMF reach tentative deal

U.S. lauds ‘hard work’ after Lebanon, IMF reach tentative deal

The United States has welcomed the staff-level agreement reached Thursday between the government of Lebanon and the International Monetary Fund (IMF), commending the “hard work” of the IMF delegation and the Lebanese ministerial team.

“Lebanon has committed to an ambitious and comprehensive reform program, including key prior actions to reform its banking sector, improve transparency, and beginning the path toward debt sustainability. We urge the quick passage of the required legislation and implementation of all prior actions,” the U.S. Embassy in Beirut said in a statement.

“We are eager to see these reforms implemented in order to bring the IMF agreement to fruition to help rescue the economy and put it back on the path to sustainability,” it added.

The IMF announced Thursday a conditional agreement to provide Lebanon with $3 billion in aid to help it emerge from a severe economic crisis, following months of negotiations.

The country has been battered by triple-digit inflation, soaring poverty rates and the collapse of its currency since a 2020 debt default.

Officials in Beirut applauded the announcement as it will open the door to additional financial support from foreign donors.

Experts meanwhile reiterated doubts over the willingness of Lebanon's political elite, widely blamed for endemic corruption, to implement