Daily Management Review

IMF is exploring options to support Lebanon after explosion


The International Monetary Fund (IMF) is exploring all possible options for supporting Lebanon after the explosion, the head of the organization, Kristalina Georgieva, said on Thursday.

“After the terrible tragedy in Lebanon, it’s time for national unity to overcome this scourge, as well as to act on the deep economic and social crisis that continues in the country. It is also time for the international community and friends of Lebanon to offer assistance to the country at a time when it is so urgently needed. The IMF is exploring all possible options for providing support to the Lebanese people, "- the fund said in a statement.

Georgieva also noted that it is necessary to get out of the impasse in which the discussions about reforms in the country have entered, and to start implementing a program to revive the economy.

Earlier, Lebanese Minister of Economy said that the country would not be able to independently cope with the consequences of the explosion in Beirut, and the solution is cooperation with the IMF.

Beirut Governor Marwan Abboud said on Wednesday that damage from an explosion at the port could be as high as $ 15 billion.

A powerful explosion occurred in the port area of Beirut on Tuesday evening. According to the authorities, the reason was improper storage of 2.7 thousand tons of ammonium nitrate - half of the city's buildings were damaged, hospitals were crowded with injured people. According to the latest data, 135 people died and about 5 thousand were injured, many are considered missing.

source: reuters.com