Lebanon parliament ready to agree legislation, reforms for IMF-backed programme

The IMF said on Thursday it had reached a staff-level agreement with Lebanon for a four-year extended fund facility that would only get full approval from the fund if Beirut enacts a series of reforms.

“We have all the necessary reform laws that they are asking for, we are going to present them soon and hopefully the parliament will look at them and God willing everything will work out,” Mr Mikati said.

The Extended Fund Arrangement (EFF) aims to “rebuild the economy, restore financial sustainability, strengthen governance and transparency, remove impediments to job-creating growth, and increase social and reconstruction spending”, the IMF said.