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finance & economyJanuary 19, 2022

Reports: Miqati Senses 'Positive Atmosphere', Says IMF Talks ‘Moving Forward’

Lebanon is making improvements in the preliminary talks with the International Monetary Fund, sources said.

Miqati's sources told al-Joumhouria newspaper, in remarks published Tuesday, that the talks with the IMF are moving forward.

Miqati thinks the Cabinet reconvening is vital and that the general situation in the country is positive.

Resuming Cabinet sessions and passing the 2022 state budget is an international request and prerequisite for launching the negotiations with the IMF.

The Shiite Duo had boycotted Cabinet since October to pressure the government into dismissing Judge Tarek Bitar, leading the Beirut port blast investigations.

Amal and Hizbullah took a joint decision Saturday to return to Cabinet “in response to the needs of the citizens” and “to prevent being accused of obstruction” after they were blamed for the worsening of the situation in the country, as the Lebanese Pound hit its lowest record.

An MP from Miqati’s bloc said that Cabinet will convene next week to discuss the state budget. The Prime Minister will call for a session on Monday, MP Ali Darwish said, as soon as he receives the state budget from the Ministry of Finance.

An IMF delegation is scheduled to visit Lebanon in late January or early February. An agreement with the IMF will have to be approved by the government.

According to Miqati’s sources, difficult measures will follow 'but they are necessary for the recovery.'