The IMF will send staff to Lebanon and Tunisia this month to further discussions on new financial aid programs for the countries, a fund spokesman said Thursday.
The tw governments have been seeking support for their troubled economies for months but have yet to reach agreements with the Washington-based crisis lender.
Talks with Lebanon on aid to address the severe financial challenges are “progressing well,” IMF spokesman Gerry Rice told reporters.
But “extensive work is needed, he said. “Lebanon’s challenges are deep and complex they will require time and commitment.”
In 2020, Lebanon defaulted on its sovereign debt for the first time in its history.
The IMF launched negotiations last month on a program to help pull the Middle Eastern country out of its economic crisis, which has seen the currency collapse, inflation hit triple-digit levels and poverty climb.