French ambassador urges Lebanon to accelerate talks with IMF

Source: Xinhua| 2020-05-19 00:34:34|Editor: huaxia

BEIRUT, May 18 (Xinhua) -- French Ambassador to Lebanon Bruno Foucher on Monday urged Lebanese officials to accelerate talks with the International Monetary Fund (IMF) to be able to unlock CEDRE funds, LBCI local TV channel reported.

"Talks with the IMF and the economic strategy adopted by the cabinet are two very important steps to be able to receive funds from CEDRE," Foucher said, following a meeting held with Lebanese Prime Minister Hassan Diab at the Grand Serail to discuss latest economic developments.

Foucher noted that the coming days will constitute a very important period to continue talks with the IMF and reach positive results with regard to Lebanon's economic strategy and necessary reforms.

Meanwhile, Diab said his cabinet is working hard to implement reforms requested by CEDRE and the international community in a bid to restore confidence in Lebanon.

"We will be working in this direction and I am sure we will be able to restore prosperity to our economy," Diab said.

CEDRE refers to the Conference for Economic Development and Reform through Enterprises, hosted by France in 2018, to help Lebanon raise funds to finance its plan to modernize infrastructure and develop economy.

Lebanon has pledged during CEDRE conference to adopt certain reform measures in a bid to unlock 11 billion U.S. dollars in loans and donations to support its ailing economy.

However, the previous government was incapable of taking measures to implement serious reforms.

The current government is holding talks with the IMF to discuss its economic plan and receive financial and technical support from the fund. Enditem