Lebanon's reforms insufficient for recovery, IMF says

23/5/2024 12:24

        Lebanon's economic reforms are insufficient to help lift the country out of its economic crisis, the International Monetary Fund (IMF) said on Thursday.
        
        Ernesto Ramirez Rigo, the head of the IMF mission visiting Lebanon, said in a statement that Lebanon's ongoing refugee crisis, fighting with Israel at its Southern border and the spillover from the war in Gaza are exacerbating an already dire economic situation.
        
        Israeli forces and Lebanon's Hezbollah have traded fire across Lebanon's southern border since the war in Gaza broke out in October last year.
        
        Israel launched its assault on Gaza following a Hamas-led attack on southern Israeli communities on Oct. 7 in which fighters killed 1,200 people and captured more than 250 hostages.
        
        Since then, Israel's assault has killed more than 35,000 people, with thousands more feared buried under the rubble, according to Gaza health authorities.