IMF Chief Says More Unity Needed in Lebanon on Reforms

An anti-government protester waves a national flag in front of a concrete wall set up by Lebanese police to block a road leading to the parliament building in downtown Beirut, Lebanon. (EPA)
An anti-government protester waves a national flag in front of a concrete wall set up by Lebanese police to block a road leading to the parliament building in downtown Beirut, Lebanon. (EPA)
TT
20

IMF Chief Says More Unity Needed in Lebanon on Reforms

An anti-government protester waves a national flag in front of a concrete wall set up by Lebanese police to block a road leading to the parliament building in downtown Beirut, Lebanon. (EPA)
An anti-government protester waves a national flag in front of a concrete wall set up by Lebanese police to block a road leading to the parliament building in downtown Beirut, Lebanon. (EPA)

International Monetary Fund Managing Director Kristalina Georgieva said on Friday she does not yet have reason to see a breakthrough in negotiations with Lebanon to help resolve the country’s economic crisis.

Georgieva told a Reuters Newsmaker webcast event that IMF officials continue to work with Lebanon, but it is unclear whether the country’s leaders, stakeholders and society can unify around reforms needed to stabilize its economy and return it to a growth path.

Lebanon is battling a financial crisis regarded as the biggest threat to the country since its 1975-1990 civil war, with the Lebanese pound losing 75% of its value since October.

Hopes for a quick rescue deal with the IMF have been complicated by a dispute between the government and central bank over the scale of losses in the banking system. Concerns persist, meanwhile, over Prime Minister Hassan Diab’s commitment to reforms.

“The core of the issue is whether there can be a unity of purpose in the country that can then carry forward a set of very tough but necessary measures,” Georgieva said. “All I can say is that we are putting our best people to work with Lebanon, but we do not yet have a reason to say there is a breakthrough.”

Georgieva said Lebanon’s situation “breaks my heart” because the country has a strong entrepreneurial culture and has taken in Palestinian and Syrian refugees, helping to ease a major humanitarian crisis.



Netanyahu and Trump Prioritize Gaza Hostages

Israeli Prime Minister Benjamin Netanyahu speaks to the press, on Capitol Hill in Washington, D.C. US July 8, 2025. REUTERS/Evelyn Hockstein
Israeli Prime Minister Benjamin Netanyahu speaks to the press, on Capitol Hill in Washington, D.C. US July 8, 2025. REUTERS/Evelyn Hockstein
TT
20

Netanyahu and Trump Prioritize Gaza Hostages

Israeli Prime Minister Benjamin Netanyahu speaks to the press, on Capitol Hill in Washington, D.C. US July 8, 2025. REUTERS/Evelyn Hockstein
Israeli Prime Minister Benjamin Netanyahu speaks to the press, on Capitol Hill in Washington, D.C. US July 8, 2025. REUTERS/Evelyn Hockstein

Israeli Prime Minister Benjamin Netanyahu said on Wednesday that his meeting with US President Donald Trump focused on freeing hostages held in Gaza, and stressed his determination to "eliminate" the military and governmental capabilities of Hamas.

Netanyahu said on X that the leaders also discussed the consequences and possibilities of "the great victory we achieved over Iran," following an aerial war last month in which the United States joined Israeli attacks on Iran's nuclear sites.

Netanyahu is making his third US visit since Trump took office on January 20 and had earlier told reporters that while he did not think Israel's campaign in the Palestinian enclave was done, negotiators are "certainly working" on a ceasefire.

Trump met Netanyahu on Tuesday for the second time in two days to discuss the situation in Gaza, with the president's Middle East envoy indicating that Israel and Hamas were nearing an agreement on a ceasefire deal after nearly two years of war. Netanyahu also said that ceasefire efforts were underway.

A delegation from Qatar, the host of indirect talks between Israeli negotiators and the Palestinian militant group Hamas, met senior White House officials before Netanyahu's arrival on Tuesday, Axios said, citing a source familiar with the details.

According to Reuters, the White House had no immediate comment on the report. Steve Witkoff, Trump's special envoy to the Middle East, said the number of issues preventing Israel and Hamas from reaching an agreement had decreased from four to one, expressing optimism for a temporary ceasefire deal by the end of the week.

Witkoff told reporters at a Cabinet meeting that the anticipated agreement would involve a 60-day ceasefire, with the release of ten live hostages and nine deceased individuals.

Netanyahu met with Vice President JD Vance and then visited the US Capitol on Tuesday, and is due back in Congress on Wednesday to meet with US Senate leaders.

He told reporters after a meeting with the Republican House of Representatives Speaker Mike Johnson that while he did not think Israel's campaign in the Palestinian enclave was done, negotiators are "certainly working" on a ceasefire.

"We have still to finish the job in Gaza, release all our hostages, eliminate and destroy Hamas' military and government capabilities," Netanyahu said.