BEIRUT: Lebanese officials will start talks with the International Monetary Fund on Monday, an official government source told Reuters.
An IMF spokesperson also told Reuters on Saturday that a team will start virtual talks with Lebanese authorities next week.
The Lebanese government has said it hopes to reach an initial agreement with the fund for financial support between January and February. Lebanon is in the grip of an unprecedented financial crisis and an IMF deal is widely seen as the only way for it to secure aid.
The fund said in December it was assessing a $69 billion figure announced by Lebanese officials for losses in the country's financial sector.
Disagreements in Lebanon over the size of the losses and how they should be distributed torpedoed IMF talks in 2020. The central bank, banks and political elite rejected figures set out in a government plan that was endorsed by the IMF at the time.
Lebanon's Prime Minister Najib Mikati said in September that the financial recovery plan to be drawn up by his cabinet will include a fair distribution of losses suffered by the financial system, but the cabinet hasn't convened since October.
It will convene again on Monday to discuss the 2022 budget, but no clear details have been released about the recovery plan.
The Lebanese financial system collapsed in 2019 because of decades of corruption and waste in the state and the unsustainable way it was financed. The trigger was slowing inflows of hard currency into the banking system, which lent heavily to the government.
Several reforms the IMF would likely seek, including cutting subsidies and unifying the numerous exchange rates in Lebanon's chaotic cash economy, are already becoming realities as hard currency dries up, political sources say.
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Lebanon to start virtual talks with IMF next week
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Lebanon to start virtual talks with IMF next week
- An IMF spokesperson also told Reuters on Saturday that a team will start virtual talks with Lebanese authorities next week
- The Lebanese government has said it hopes to reach an initial agreement with the fund for financial support between January and February
India’s Modi is making his second official visit to Israel to meet with Netanyahu
JERUSALEM: Indian Prime Minister Narendra Modi was expected in Israel on Wednesday for a two-day visit focusing on strengthening security, economic and technological cooperation between the two countries.
Modi has said he would hold talks with Israeli Prime Minister Benjamin Netanyahu and President Isaac Herzog and would speak to Israeli parliament on Wednesday evening.
“Our nations share a robust and multifaceted Strategic Partnership,” Modi wrote on X. “Ties have significantly strengthened in the last few years.”
Netanyahu referred to himself and Modi as “personal friends” when he announced the visit earlier this week and the visit is likely to give Israel a boost of international support after seeing relations with many of its allies deteriorate since the war in Gaza began in October 2023.
In addition to being a powerful ally, India is also Israel’s No. 2 trading partner in Asia. Total trade between India and Israel was valued at $3.62 billion in the 2025 fiscal year, according to India’s Ministry of Commerce and Industry.
Modi became India’s first prime minister to travel to Israel in 2017, and Netanyahu reciprocated with a trip to India the following year.
Netanyahu told a Cabinet meeting Sunday that economic and security issues will be high on the leaders’ agenda, as will sharing technology, including artificial intelligence and quantum computing.
“We are partners in innovation, security, and a shared strategic vision,” Netanyahu said on the social platform X ahead of Modi’s arrival. “Together, we are building an axis of nations committed to stability and progress.”
Modi’s embrace of Israel has marked a shift in India’s foreign policy. India has historically supported the Palestinians, and did not establish full diplomatic ties with Israel until 1992.
A staunch Hindu nationalist, Modi was one of the first global leaders to swiftly express solidarity with Israel following the Oct. 7, 2023 attack by the Palestinian militant Hamas group.
India was also among more than 100 countries earlier this month to condemn Israel’s newly approved measures to deepen its control over the occupied West Bank and weaken the already limited powers of the Palestinian Authority.
Modi has said he would hold talks with Israeli Prime Minister Benjamin Netanyahu and President Isaac Herzog and would speak to Israeli parliament on Wednesday evening.
“Our nations share a robust and multifaceted Strategic Partnership,” Modi wrote on X. “Ties have significantly strengthened in the last few years.”
Netanyahu referred to himself and Modi as “personal friends” when he announced the visit earlier this week and the visit is likely to give Israel a boost of international support after seeing relations with many of its allies deteriorate since the war in Gaza began in October 2023.
In addition to being a powerful ally, India is also Israel’s No. 2 trading partner in Asia. Total trade between India and Israel was valued at $3.62 billion in the 2025 fiscal year, according to India’s Ministry of Commerce and Industry.
Modi became India’s first prime minister to travel to Israel in 2017, and Netanyahu reciprocated with a trip to India the following year.
Netanyahu told a Cabinet meeting Sunday that economic and security issues will be high on the leaders’ agenda, as will sharing technology, including artificial intelligence and quantum computing.
“We are partners in innovation, security, and a shared strategic vision,” Netanyahu said on the social platform X ahead of Modi’s arrival. “Together, we are building an axis of nations committed to stability and progress.”
Modi’s embrace of Israel has marked a shift in India’s foreign policy. India has historically supported the Palestinians, and did not establish full diplomatic ties with Israel until 1992.
A staunch Hindu nationalist, Modi was one of the first global leaders to swiftly express solidarity with Israel following the Oct. 7, 2023 attack by the Palestinian militant Hamas group.
India was also among more than 100 countries earlier this month to condemn Israel’s newly approved measures to deepen its control over the occupied West Bank and weaken the already limited powers of the Palestinian Authority.
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