Lebanon’s Situation Deemed “Dangerous” by the International Monetary Fund

The International Monetary Fund confirmed that Lebanon is going through a “very dangerous moment” in light of an accelerating economic collapse, stressing that failure to implement urgent reforms would plunge the country into an “endless crisis.”
This came in a press conference by Ernesto Ramirez Rigo, head of the Fund’s delegation to Lebanon, after meetings with a number of officials, most notably Prime Minister Najib Mikati. “We believe that Lebanon is at a very dangerous moment… at a crossroads,” Rigaud said, adding that the “existing static and failure” to take the required measures would plunge the country into an “endless crisis.”
Regarding the implementation of the required reforms, Rigaud indicated that “the Lebanese have made progress, but unfortunately the progress is very slow, given the complexity of the situation,” noting that “the country is in a major crisis, and what was expected was much greater than that in terms of implementing and approving legislation” related to reforms. .
In addition, a sudden decision by the Lebanese government, in which it postponed the start of daylight saving time, confused a number of sectors that are directly related to universal time, as the Lebanese, starting next Sunday, will have to deal with a number of variables, including the conversion of their smartphones and computers to the new time, while it will be Country time is an hour behind.
The concerned sectors began to take the necessary measures to deal with this decision, especially since it came late, that is, only two days before the start of summer time.
International Monetary: Lebanon is going through a very dangerous moment