IMF says its staff in Lebanon to discuss banking restructuring strategy

WASHINGTON: The International Monetary Fund has begun a staff mission to discuss the country’s strategy for restructuring the banking sector, IMF spokeswoman Julie Kozack said on Thursday, declining to say whether a preliminary agreement was imminent.

Kozack told reporters that the IMF’s staff mission in Beirut was under way as ⁠part of a ⁠close discussion with Lebanese authorities to underpin a comprehensive reform program to restore financial stability and support an economic recovery.

She said IMF staff would ⁠communicate at the end of the mission with any relevant updates.

Lebanese media quoted Lebanese Finance Minister Yassine Jaber telling reporters this week that the IMF mission would continue through Friday, adding his hope that a preliminary agreement could be reached this week.