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Tala Ramadan 19 Jun 2020

Member Of IMF Negotiation Team Resigns Over Lebanese Government’s “Unwillingness” To Reform Or Restructure

While Lebanon continues to be in the throes of an unprecedented economic crisis, financial expert Henri Chaoul (former member of the Lebanese International Monetary Fund negotiating team) submitted his resignation accusing politicians and authorities of settling for a “populist agenda” and “options to dismiss the magnitude” of the crisis.

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“I have come to the realization that there is no genuine will to implement either reforms or a restructuring of the banking sector,” said Chaoul in his resignation letter which he shared on his Twitter account.

Lebanon sought the rescue deal from the International Monetary Fund after the government endorsed a five-year recovery plan to find a way out of an unprecedented financial crisis.

Is this another proof that the Lebanese system will never be reformed?