Lebanon’s PM says IMF talks progressing well

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Lebanon’s Prime Minister Najib Mikati said on Monday that preliminary talks with the International Monetary Fund were advancing well.

“For the first time we have handed over unified financial figures,” Mikati told an economy conference in Beirut. “We hope we will have a letter of intent soon.”

Lebanese Prime Minister Najib Mikati said the country can not spend any more on subsidies.

High-Sulphur fuel from Iraq is currently the country’s only source of power, he added, providing five hours a day.

The International Monetary Fund (IMF) requires the country’s budget for 2022 to be presented to parliament before the end of the year, he said.

Reuters

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