While Lebanon previously struck a deal with International Monetary Fund to combat its crippling economic crisis, it has yet to enact the stipulated reforms under the $3B financing programme
the country's institutions but political inaction has been a hallmark of the Lebanese economic crisis.and only a caretaker government, amid persistent deadlock between rival blocs in parliament.on October 31 after completing a six-year term, without lawmakers agreeing on a successor.
The government estimates losses in the financial system total more than $70 billion, the majority of which were accrued at the central bank. To tackle this, the IMF says Lebanon must implement a new fiscal strategy. The fund wants these financial sector losses to be distributed in a way that preserves the rights of small depositors and limits recourse to state assets, though powerful politicians and banks have pushed back, delaying the recovery.
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