Lebanese Govt. to Seek New IMF Program, Policy Statement Says

The International Monetary Fund (IMF) logo is seen outside the headquarters building in Washington, U.S., September 4, 2018. REUTERS/Yuri Gripas//File Photo
The International Monetary Fund (IMF) logo is seen outside the headquarters building in Washington, U.S., September 4, 2018. REUTERS/Yuri Gripas//File Photo
TT
20

Lebanese Govt. to Seek New IMF Program, Policy Statement Says

The International Monetary Fund (IMF) logo is seen outside the headquarters building in Washington, U.S., September 4, 2018. REUTERS/Yuri Gripas//File Photo
The International Monetary Fund (IMF) logo is seen outside the headquarters building in Washington, U.S., September 4, 2018. REUTERS/Yuri Gripas//File Photo

Lebanon's new government will negotiate with the International Monetary Fund for a new program and will work to deal with the country's financial default and public debt, according to a policy statement approved by the cabinet late on Monday.

The statement, a copy of which was reviewed by Reuters, said the government would work for an economical revival that could only be achieved through restructuring the banking sector.

Lebanon has been in deep economic crisis since 2019, when its financial system collapsed under the weight of massive state debts, prompting a sovereign default in 2020 and freezing ordinary depositors out of their savings in the banking system.

Beirut reached a draft funding deal with IMF in 2022 - contingent on reforms that authorities failed to deliver.

Finance Minister Yassine Jaber, who took office as part of a new government agreed earlier this month, told Reuters an IMF mission is expected to visit Lebanon in March.

Jaber said he had met the IMF's resident representative in Lebanon, Frederico Lima, and confirmed that the government plans to move ahead with reforms.

Lebanon's political landscape has been turned on its head since the Iran-backed Lebanese group Hezbollah, long a dominant player in Lebanese politics, was badly pummelled in last year's war with Israel.

Reflecting the shift in the power balance, the government policy statement did not include language used in previous years that was seen to legitimize a role for Hezbollah in defending Lebanon, saying instead "we want a state that has the decision of war and peace".

The statement said it was required to adopt a national security strategy and a foreign policy that works to 'neutralize' Lebanon from conflicts.

In the field of energy, the Lebanese government will seek to resume work in oil and gas exploration, according to the cabinet statement. It said the government planned to establish a Ministry of Technology and Artificial Intelligence.

With a new administration in neighboring Syria, the statement said the Lebanese government believed it has an opportunity to start a serious dialogue aimed at controlling and demarcating the borders and working to resolve the issue of displaced Syrians in Lebanon.



Hamas Says It Is Engaged in ‘Fierce Fighting’ in Gaza’s Rafah

Palestinian men walk near rubble of houses destroyed during the Israeli offensive, in Rafah, in the southern Gaza Strip, March 13, 2025. (Reuters)
Palestinian men walk near rubble of houses destroyed during the Israeli offensive, in Rafah, in the southern Gaza Strip, March 13, 2025. (Reuters)
TT
20

Hamas Says It Is Engaged in ‘Fierce Fighting’ in Gaza’s Rafah

Palestinian men walk near rubble of houses destroyed during the Israeli offensive, in Rafah, in the southern Gaza Strip, March 13, 2025. (Reuters)
Palestinian men walk near rubble of houses destroyed during the Israeli offensive, in Rafah, in the southern Gaza Strip, March 13, 2025. (Reuters)

Hamas fighters were engaged in "fierce fighting" with Israeli soldiers on Thursday in the south of the Gaza Strip near Rafah, the Palestinian group said.

The statement, issued on Telegram, suggests that Hamas is still active in areas where the Israeli military has expanded its control, more than 19 months after the start of Israel's air and ground campaign in Gaza.

In a later statement, it said fighters ambushed an Israeli 12-man force inside a house in the Tanur neighborhood in the eastern Rafah area with two anti-personnel and anti-armor rockets, killing and wounding several soldiers.

There was no immediate Israeli comment on the Hamas claim.

The group has rarely reported fighting around Rafah in recent months, with most clashes reported in the eastern area of the nearby city of Khan Younis and northern parts of the coastal territory.

Israel said earlier this month it would further extend its offensive in Gaza.

Israel resumed its offensive in March after the collapse of a fragile, US-backed ceasefire that had halted fighting for six weeks.