Lebanese PM and IMF head discuss country’s worst economic crisis in three decades – The National

Lebanese PM and IMF head discuss country’s worst economic crisis in three decades – The National

Lebanese Prime Minister Hassan Diab and International Monetary Fund managing director Kristalina Georgieva discussed the government's plan to rescue the economy from its worst crisis in three decades.. "I had a productive call with Lebanon's PM @Hassan_B_Diab today to discuss the government's Recovery Plan, which is an important step forward to address #Lebanon's economic challenges," Ms Georgieva said in a tweet on Monday.. Lebanon formally asked the IMF for a loan of at least $10 billion (Dh36.7bn) on Thursday.. The government's recovery plan is comprised of measures to adjust the exchange rate regime and restructure public debt and the financial sector.. It also intends to bring about fiscal consolidation and structural, social and environmental reforms while seeking international financial aid.. The plan assumes that the country will receive external financial support and the government will successfully execute the reforms in full.. It also assumes that the government will reach a debt restructuring agreement with creditors this year.. It estimates the central bank's losses at 117 trillion pounds ($77.6bn/Dh285bn) and impaired liabilities at 121tn pounds.. ABL said that "the local restructuring process, as outlined in the plan, would further undermine confidence in Lebanon, domestically and internationally".. ABL said the government's plan