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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
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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.

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Arab World

Syria Is at a Crossroads: It Can Return to Violence or Transition to Peace, Says UN Envoy 

A member of Syria's security forces mans a gun in the back of a truck during the funeral of three people killed in Israeli strikes a day earlier, in the southern town of Daraa on March 18, 2025. (AFP)
A member of Syria's security forces mans a gun in the back of a truck during the funeral of three people killed in Israeli strikes a day earlier, in the southern town of Daraa on March 18, 2025. (AFP)
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Syria Is at a Crossroads: It Can Return to Violence or Transition to Peace, Says UN Envoy 

A member of Syria's security forces mans a gun in the back of a truck during the funeral of three people killed in Israeli strikes a day earlier, in the southern town of Daraa on March 18, 2025. (AFP)
A member of Syria's security forces mans a gun in the back of a truck during the funeral of three people killed in Israeli strikes a day earlier, in the southern town of Daraa on March 18, 2025. (AFP)

Three months following the overthrow of President Bashar al-Assad, Syria is at a crossroads, the top UN envoy for the country said Tuesday.

Geir Pedersen told the UN Security Council that Syria can return to violence or start an inclusive transition and end decades of conflict.

He said the road back to conflict, fragmentation and violations of Syrian sovereignty by external powers "must not come to pass." The other road, which would restore Syria’s sovereignty and regional security, is "viable," but "requires the right Syrian decisions" and international support, Pedersen said.

Syria’s civil war had gone on for 13 years when a lightning insurgency led by the Hayat Tahrir al-Sham group (HTS) overthrew Assad in December, ending his family’s more than 50-year rule.

Former HTS leader Ahmed al-Sharaa was announced as the country’s interim president after a meeting of armed groups that took part in the offensive.

Pedersen spoke weeks after clashes between Sharaa's security forces and armed groups loyal to Assad - sparked by an ambush by regime remnants on the security forces - spiraled into sectarian revenge attacks that killed scores of civilians, most of them Alawites, a minority sect to which Assad belongs. It was the worst violence since December.

Pedersen told the council that while the situation was "comparatively calmed" after several days, the UN continues to receive reports "of harassment and intimidation, including with heavy sectarian overtones."

He said the interim authorities announced an independent investigation. Pedersen said he stressed that it must be transparent, in line with international standards, and its findings made public.

The UN special envoy, who will be returning to Damascus shortly, highlighted several priority areas for action and attention.

The latest violence, he said, "laid bare the urgent need for credible and efficient accountability for crimes" committed over decades.

He said the UN and the international community will be watching whether the soon-to-be-announced transitional government and transitional legislative council reflect Syria’s diversity and include both men and women.

Pedersen said his team was consulted on a temporary constitution and gave advice on international best practices and norms. "Some of this was taken on board, some was not," he said.

In mid-March, Sharaa signed a temporary constitution that promises to protect the rights of all Syrians for five years during a transitional phase.

"Some Syrians have commended the effort to fill the constitutional vacuum, and noted the incorporation of international human rights norms," Pedersen said. "But others have expressed reservations about the non-transparent process of its drafting and the substance itself — particularly a very strong presidency with unclear checks and balances between state powers and ambiguity regarding the transition steps."

Pedersen also cited other issues that demand action, including dealing with armed groups and foreign fighters, and reviving the economy.