Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Lebanese Ministry of Health: One person was killed in an Israeli airstrike on a car in the town of Burj Qalawieh, south Lebanon.
Al Mayadeen correspondent: The first ship of the Maghreb fleet delivering aid to break the siege on Gaza departs from the port of Gammarth in Tunisia.
Channel 12: Airspace closed at Ramon Airport due to fears of drone infiltration
IOF Spokesperson: Sirens sounded over an aircraft infiltration in the Bir Ora area, and details are being examined
Drone infiltration sirens sound north of the Gulf of Aqaba
Al Mayadeen's correspondent in Gaza: The Israeli occupation carried out five extremely violent raids on the western areas of Gaza City
Al Mayadeen's correspondent in Gaza: The Israeli occupation carried out major bombings in the Gaza Strip, the most violent since October 7
Yemeni Armed Forces spokesperson Brigadier General Yahya Saree: The missile force carried out a major operation using the Palestine 2 ballistic hypersonic missile, hitting several targets in occupied Yafa.
Sirens sound in large areas of occupied Palestine after a missile launch from Yemen was detected
Al Mayadeen's correspondent: 14 martyrs arrive at al-Shifa Hospital following Israeli massacre of al-Sultan Family north of Gaza.

Lebanon advances IMF-linked banking reforms to secure aid

  • By Al Mayadeen English
  • Source: Agencies
  • 12 Apr 2025 18:13
3 Min Read

The United Nations Special Coordinator for Lebanon (UNSCOL) welcomed the cabinet's move, describing it as a signal of commitment to reform and institutional strengthening.

Listen
  • x
  • AP
    A retired soldier removes barbed-wire from the top of a concrete wall that set outside the central bank, during a protest demanding better pay and living conditions, in Beirut, Lebanon, Thursday, March 30, 2023 (AP) 

Lebanon's cabinet has approved a draft law to restructure the country's banking sector—one of several externally imposed conditions tied to unlocking long-delayed international financial assistance.

The move comes amid growing pressure from Western-backed institutions and donors who have tied economic aid to a political and financial restructuring.

"This is the first time a (Lebanese) government has approved a bill of this kind," said Information Minister Paul Morcos following the cabinet meeting on Saturday.

"This draft law has been, and remains, a demand of both legal experts and international institutions keen on helping Lebanon," he added, in reference to the longstanding reform wishlist of the International Monetary Fund (IMF) and other global financial actors.

The legislation follows the controversial lifting of banking secrecy laws—another key demand of the IMF and Western donors.

Morcos framed these rapid reforms as part of a broader realignment toward international expectations: "In just a few weeks, since adopting the banking secrecy lifting bill, we have accomplished a series of necessary reforms for Lebanon," he said, adding that these steps are "in line with the requirements of the agreement with the IMF." 

Read more: Lebanon's Salameh world's worst central banker: The Economist

Related News

S&P upgrades Lebanon’s local currency rating to CCC

Lebanon's ex-central bank chief stays behind bars as probe continues

The United Nations Special Coordinator for Lebanon (UNSCOL) welcomed the cabinet's move, describing it as a signal of commitment to reform and institutional strengthening. "This positive momentum must continue in parliament and of course, later, in practice," UNSCOL posted on X.

A third reform bill, aimed at addressing the country's massive financial deficit, is said to be in the works. "A third step will follow these two measures in the near future: the development of a bill aimed at addressing the financial deficit," Morcos noted.

Sovereignty Undermined

These measures come in the context of a broader economic strategy that observers view as politically selective. Since the crisis began in 2019, the country has faced not only economic collapse—marked by the Lebanese pound losing over 90% of its value and more than 80% of the population falling into poverty—but also a campaign of international pressure aimed at reshaping Lebanon's political order, especially its resistance bloc.

Critics argue that foreign-imposed conditions for aid have deliberately weakened Lebanon's sovereignty, using financial collapse as leverage to curtail the influence of Hezbollah and its allies.

Western sanctions, donor freezes, and aid conditionality have deepened the economic crisis while sidelining any serious reckoning with the root causes of collapse—decades of elite mismanagement, post-war financial engineering, and neoliberal debt cycles backed by the very same international lenders now demanding reform.

Read more: IMF awards Egypt $820mln for government's 'corrective' actions

Newly appointed central bank governor Karim Souaid, tasked with restoring trust in Lebanon's financial institutions, has pledged to combat money laundering and shield the central bank from political interference.

He and other officials are scheduled to meet IMF representatives during the upcoming World Bank summit in Washington to negotiate terms for a possible funding package.

While the international community insists on "substantial and sustained fiscal reforms" as a condition for aid, many in Lebanon are asking whether these reforms serve economic justice—or merely reinforce a political agenda crafted far beyond the country's borders.

  • Lebanese crisis
  • Lebanese Central Bank Governor
  • Paul Morcos
  • Karim Souaid
  • Lebanon
  • Banque du Liban

Most Read

The damaged building in the Katara neighborhood, Doha, Qatar, September 9, 2025 (Social media)

Hamas delegation survives Israeli assassination attempt in Qatar

  • Politics
  • 9 Sep 2025
Israeli police and rescue teams respond at the scene of a shooting attack where several people killed and injured in Jerusalem, Monday, Sept. 8, 2025 (AP)

Al-Quds shooting: 7 settlers killed, several critically injured

  • Politics
  • 8 Sep 2025
Pro-"Israel" conservative Charlie Kirk shot during Utah speech

Pro-'Israel' far-right Charlie Kirk shot dead during Utah speech

  • US & Canada
  • 11 Sep 2025
Uprising against Volker Turk at the Human Rights Council over Gaza.

Uprising against Volker Turk at the Human Rights Council over Gaza

  • Politics
  • 12 Sep 2025

Coverage

All
The Ummah's Martyrs

Read Next

All
People protest against Israeli Prime Minister Benjamin Netanyahu during the 79th session of the United Nations General Assembly, in New York, on Friday, September 27, 2024 (AP)
Politics

'Israel' stops unfunded diplomacy ahead of UN, October 7 memorial

An Israeli Air Force fighter jet releases flares over the Gaza Strip, is seen from southern occupied Palestine, Thursday, May 8, 2025 (AP)
Politics

OIC summit draft: Israeli attack on Qatar risks normalization

People shout slogans and hold Palestinian flags while protesting during the twenty-first stage of La Vuelta cycling race from Alalpardo to Madrid, Spain, Sunday, Sept. 14, 2025. (AP)
Sports

Pro-Palestine protests force abrupt end to Vuelta a España finale

Damage is seen after an Israeli strike targeted a compound that hosted Hamas' political leadership in Doha, Qatar, on Wednesday, September 10, 2025 (AP)
Politics

Israeli regime faces growing isolation over Qatar strike: Reports

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS