IMF urges Lebanon to make "immediate and substantial" fiscal adjustment

22.06.2018

Lebanon requires "an immediate and substantial" fiscal adjustment to improve the sustainability of public debt that stood at more than 150 percent of gross domestic product (GDP) at the end of 2017, the IMF executive board said.

An IMF statement released overnight said IMF executive directors agreed with the thrust of a staff appraisal which in February urged Lebanon to immediately anchor its fiscal policy in a consolidation plan that stabilised debt as a share of GDP and then puts it on a clear downward path.

Lebanon's debt to GDP ratio is one of the highest in the world. "Directors stressed that an immediate and substantial fiscal adjustment is essential to improve debt sustainability, which will require strong and sustained political commitment," the IMF executive board statement said.    (Reuters)

More on this topic
In submitting this comment, the reader accepts the following terms and conditions: Qantara.de reserves the right to edit or delete comments or not to publish them. This applies in particular to defamatory, racist, personal, or irrelevant comments or comments written in dialects or languages other than English. Comments submitted by readers using fantasy names or intentionally false names will not be published. Qantara.de will not provide information on the telephone. Readers' comments can be found by Google and other search engines.