The International Monetary Fund urged Lebanese authorities on Monday to unite around a government rescue plan and warned that attempts to lower losses from the financial crisis could only delay recovery.
The government’s rescue plan has served as the cornerstone of talks with the IMF and maps out massive losses in the financial system.
“It is very important that the authorities unite around the government plan. From our side, we are ready to work together with the authorities to improve the plan where this is necessary,” said Athanasios Arvanitis, deputy director of the IMF’s Middle East and Central Asia Department. Arvanitis said in an online press conference that delaying taking action would only worsen the outlook for the economy.
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