Financial reform plan can unlock foreign support for Lebanon, IMF says

Special Financial reform plan can unlock foreign support for Lebanon, IMF says
Joseph Aoun meets with Ernesto Ramirez Rigo and a delegation from the IMF. (NNA)
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Updated 12 March 2025
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Financial reform plan can unlock foreign support for Lebanon, IMF says

Financial reform plan can unlock foreign support for Lebanon, IMF says
  • Negotiations between Lebanon and the IMF aim to pave the way for essential reforms to put the country on the path to financial recovery
  • Follows worsening financial and economic crises that Lebanon has been grappling with since 2019 due to economic mismanagement, rampant corruption and accumulated debt

BEIRUT: A unified financial reform plan will allow Lebanon to overcome its economic issues and unlock foreign funding, the head of the IMF’s mission to the country said on Wednesday.

Ernesto Ramirez Rigo was speaking in a meeting with President Joseph Aoun, who said that Lebanon was “committed to moving forward with implementing reforms.”

Negotiations between Lebanon and the IMF aim to pave the way for essential reforms to put the country on the path to financial recovery.

It follows worsening financial and economic crises that Lebanon has been grappling with since 2019 due to economic mismanagement, rampant corruption and accumulated debt.

Presidential media adviser Najat Charafeddine told Arab News: “The IMF delegation emphasized that Lebanon’s proposed plan must be approved by all relevant parties in order to pass in parliament.

Implementing reforms will enable Lebanon to receive aid, including grants, particularly from countries with close ties, the delegation said.

“Achieving the plan will serve as an IMF seal of approval that will unlock assistance,” Lebanese officials were told.

The delegation also highlighted “the necessity of Lebanon returning to the fundamentals, particularly in restructuring banks and revisiting banking secrecy laws, which have yet to see the light of day due to disagreements.”

Over the past two days, specialized technical meetings have continued between experts from the IMF and a World Bank delegation, along with directors of departments and specialized experts at the Lebanese Ministry of Finance.

The talks aimed “to reach conclusions on proposed issues to promote transparency in public finances and more comprehensive reforms,” a Ministry of Finance statement said.

The IMF delegation met Prime Minister Nawaf Salam, Parliament Speaker Nabih Berri and Finance Minister Yassine Jaber to discuss the details of the economic plan and required reforms.

Jaber said he discussed “the priorities, namely the appointment of the governor of Banque du Liban, who will play a crucial role in working with the IMF.

“Preparations for reforms are ongoing to enable Lebanon to implement its financial plan,” he added, highlighting support for amending Lebanon’s Monetary and Credit Law.

Jaber said: “The issue of frozen deposits in banks will be addressed in stages, and as minister of finance, I have no authority over the banking sector.”

Ousmane Dione, World Bank VP for the Middle East and North Africa, who met Jaber in Beirut in late February, had previously called on the Lebanese government to implement reforms.

This would “ensure credibility and transparency, reassure investors and improve the business environment,” he said.

The IMF delegation will meet a technical committee at the Association of Banks on Thursday.

According to media reports, the meeting will focus on “the performance of the exchange market and the Banque du Liban’s interventions, the banking restrictions on transfers and the authorization of certain outgoing transfers.

“This is seen as an attempt to monitor Lebanon’s cash economy, which has flourished since the country’s financial collapse.”

Meanwhile, diplomatic pressure exerted by Lebanon on the five-member committee overseeing the implementation of the ceasefire agreement between Hezbollah and Israel led to the release of four captives held by the latter on Tuesday evening.

The development was welcomed by Hezbollah supporters.

Israel is set to release a fifth person, a Lebanese soldier, on Wednesday evening, after he underwent surgery in an Israeli hospital.

It follows the release of four Lebanese captives a day earlier.

On social media, activists supporting Hezbollah celebrated the release of prisoners held by Israel for three months as a result of “diplomatic, not military, efforts.”

One activist claimed that President Joseph Aoun “had achieved what 100,000 rockets failed to accomplish,” while another said: “Diplomacy succeeded in releasing five prisoners, and tomorrow it could resolve the issues surrounding the disputed border points.”

Axios quoted a US official on Tuesday: “The Trump administration had been mediating between Israel and Lebanon for several weeks with the aim of strengthening the ceasefire and reaching a broader agreement.

“All parties are committed to upholding the ceasefire agreement in Lebanon and fulfilling all its conditions. We look forward to convening swift meetings of the working groups regarding Lebanon to address the outstanding issues. Israel and Lebanon have agreed to initiate negotiations to resolve disputes concerning their land borders.”

Six of 13 points remain unresolved since the establishment of the Blue Line following Israel’s withdrawal from Lebanon in 2000.

Additionally, Israel has yet to withdraw from five Lebanese hills it occupies in the border area following the recent conflict.

Reporters in the south have said that the Israeli army has expanded its presence around the hills, where it has established military facilities.

A joint statement issued by the US and French embassies in Lebanon and UNIFIL on Tuesday said: “The ceasefire implementation mechanism committee will continue to hold regular meetings to ensure full implementation of the cessation of hostilities.”

Israeli Channel 12 quoted an Israeli politician as saying: “Discussions with Lebanon are part of a broader and comprehensive plan. Israel aims to achieve normalization with Lebanon.

“The prime minister’s policy has already transformed the Middle East, and we wish to maintain this momentum and reach normalization with Lebanon.

“Just as Lebanon has claims regarding the borders, we also have our own border claims ... we will address these matters.”


Jordan’s prime minister warns against threat of ‘political opportunism’ and external loyalties

Jordan’s prime minister warns against threat of ‘political opportunism’ and external loyalties
Updated 11 sec ago
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Jordan’s prime minister warns against threat of ‘political opportunism’ and external loyalties

Jordan’s prime minister warns against threat of ‘political opportunism’ and external loyalties
  • Jafar Hassan’s comments follow arrest of 16 people accused of planning acts of chaos and sabotage, and seizures of missiles, explosives and firearms
  • ‘Nothing transcends Jordan’s interests’ and there is no tolerance for ‘subversive elements seeking to propagate instability and impede national progress,’ he says

LONDON: Jordan’s Prime Minister Jafar Hassan cautioned on Tuesday against acts of “political opportunism” and any activities that might undermine public safety.

Speaking during a Cabinet meeting in Ajloun, he said: “The Jordanian state’s forbearance cannot be subjected to testing, nor can any entity prevail against it through performative displays or populist demagoguery, or jeopardize public welfare for any cause whatsoever,” the Jordan News Agency reported.

“Nothing transcends Jordan’s interests” and there is “no space for external loyalties or subversive elements seeking to propagate instability and impede national progress,” he added.

“Within Jordan’s borders, sovereignty is exclusively vested in constitutional legitimacy, with authority concentrated solely in state institutions and our independent judiciary.”

The prime minister’s comments came a week after Jordanian authorities said they foiled a series of plots that threatened the country’s national security. They arrested 16 people accused of planning acts of chaos and sabotage, and seized weapons including missiles, explosives and firearms.

Hassan said national unity is essential to the country’s strength and any attempt to compromise it “constitutes direct opposition to Jordan’s national interests and its citizenry.”


Syria arrests Assad-era officer accused of ‘war crimes’: ministry

Interior ministry announced that security forces had arrested the “criminal brigadier-general Sultan Al-Tinawi.”
Interior ministry announced that security forces had arrested the “criminal brigadier-general Sultan Al-Tinawi.”
Updated 41 sec ago
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Syria arrests Assad-era officer accused of ‘war crimes’: ministry

Interior ministry announced that security forces had arrested the “criminal brigadier-general Sultan Al-Tinawi.”
  • The statement accused Tinawi of involvement in “committing war crimes against civilians, including a massacre” in the Damascus countryside in 2016

DAMASCUS: Syrian authorities said Tuesday they had arrested a former officer in the feared security apparatus of ousted ruler Bashar Assad, the latest such announcement as the new government pursues ex-officials accused of atrocities.
The interior ministry announced in a statement that security forces in the coastal province of Latakia had arrested the “criminal brigadier-general Sultan Al-Tinawi,” saying he was a key officer in the air force intelligence, one of the Assad family’s most trusted security agencies.
The statement accused Tinawi of involvement in “committing war crimes against civilians, including a massacre” in the Damascus countryside in 2016.
It said he was responsible for “coordinating between the leadership of the Lebanese Hezbollah militia and a number of sectarian groups in Syria.”
Tinawi has been referred to the public prosecution for further investigation, the statement said.
A security source, requesting anonymity as they were not authorized to speak to the media, said that Tinawi held senior administrative positions in the air force intelligence when Jamil Hassan was head of the notorious agency.
Hassan has been sentenced in absentia in France for complicity in crimes against humanity and war crimes, while the United States has accused him of “war crimes,” including overseeing barrel bomb attacks on Syrian people that killed thousands of civilians.
Tinawi had been “head of the information branch of the air force intelligence” before Assad’s ouster late last year, the security source told AFP, describing the branch as “one of the most powerful and secret security agencies in the country.”
Since taking power in December, Syria’s new authorities have announced a number of arrests of Assad-era security officials.
Assad fled to Moscow with only a handful of confidants, abandoning senior officials and security officers, some of whom have reportedly fled to neighboring countries or taken refuge in the coastal heartland of Assad’s Alawite minority community.


Jerusalem patriarch hails pope’s commitment to Gaza

Cardinal Pierbattista Pizzaballa, Latin Patriarch of Jerusalem, gives a press conference at the patriarchate headquarters.
Cardinal Pierbattista Pizzaballa, Latin Patriarch of Jerusalem, gives a press conference at the patriarchate headquarters.
Updated 59 min 18 sec ago
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Jerusalem patriarch hails pope’s commitment to Gaza

Cardinal Pierbattista Pizzaballa, Latin Patriarch of Jerusalem, gives a press conference at the patriarchate headquarters.
  • Patriarch thanked numerous Palestinian and Israeli public figures who offered condolences, did not comment on lack of any official message from Netanyahu

JERUSALEM: The Latin patriarch of Jerusalem, Archbishop Pierbattista Pizzaballa, on Tuesday hailed Pope Francis’s support for Gazans and engagement with the small Catholic community in the war-battered Palestinian territory.
The Catholic church’s highest authority in the region, who is considered a potential successor to the late pontiff, Pizzaballa told journalists in Jerusalem that “Gaza represents, a little bit, all what was the heart of his pontificate.”
Pope Francis, who died on Monday aged 88, advocated peace and “closeness to the poor... and to the neglected one,” said the patriarch.
These positions became particularly evident in Francis’s response to the Israel-Hamas war which broke out in October 2023, Pizzaballa said.
“He was very close to the community of Gaza, the parish of Gaza, he kept calling them many times — for a certain period, also every day, every evening at 7 pm,” said the patriarch.
He added that by doing so, the pope “became for the community something stable, and also comforting for them, and he knew this.”
Out of the Gaza Strip’s 2.4 million people, about 1,000 are Christians. Most of them are Orthodox, but according to the Latin Patriarchate, there are about 135 Catholics in the territory.
Since the early days of the war, members of the Catholic community have been sheltering at Holy Family Church compound in Gaza City, and some Orthodox Christians have also found refuge there.
Pope Francis repeatedly called for an end to the war. The day before his death, in a final Easter message delivered on Sunday, he condemned the “deplorable humanitarian situation” in the besieged territory.
“Work for justice... but without becoming part of the conflict,” said Pizzaballa of the late pontiff’s actions.
“For us, for the Church, it leaves an important legacy.”
The patriarch thanked the numerous Palestinian and Israeli public figures who have offered their condolences, preferring not to comment on the lack of any official message from Israel’s Prime Minister Benjamin Netanyahu.
Even as “the local authorities... were not always happy” with the pope’s positions or statements, they were “always very respectful,” he said.
Pizzaballa said he will travel to Rome on Wednesday, after leading a requiem mass for the pope at the Church of the Holy Sepulchre in Jerusalem in the morning.
As one of the 135 cardinal electors, the Latin patriarch will participate in the conclave to elect a new pope.
Pizzaballa, a 60-year-old Italian Franciscan who also speaks English and Hebrew, arrived in Jerusalem in 1990 and was made a cardinal in September 2023, just before the Gaza war began.
His visits to Gaza and appeals for peace since then have attracted international attention.


UAE FM meets Sri Lankan president in Colombo visit

UAE FM meets Sri Lankan president in Colombo visit
Updated 22 April 2025
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UAE FM meets Sri Lankan president in Colombo visit

UAE FM meets Sri Lankan president in Colombo visit
  • Sheikh Abdullah bin Zayed Al-Nahyan highlighted the UAE’s commitment to enhancing cooperation with Sri Lanka
  • He attended the signing of a deal to establish the UAE-Sri Lanka Joint Business Council

LONDON: Sheikh Abdullah bin Zayed Al-Nahyan, the UAE minister of foreign affairs, met Sri Lanka’s president and foreign minister in Colombo during an official visit on Tuesday.

Sheikh Abdullah and President Anura Kumara Dissanayake discussed ways to enhance bilateral cooperation in various sectors, building on strong and evolving ties between the UAE and Sri Lanka.

He highlighted the UAE’s commitment to enhancing cooperation with Sri Lanka to support the development goals of both countries, the Emirates News Agency reported.

The UAE is committed to partnering with friendly countries to enhance prosperity and sustainable development, he added. President Dissanayake commended the strong relationship between Abu Dhabi and Colombo, WAM reported.

Sheikh Abdullah spoke with his Sri Lankan counterpart, Vijitha Herath, about opportunities for enhancing cooperation in areas such as the economy, trade, tourism and development.

The ministers exchanged views on several regional and international issues, and attended the signing of a memorandum of understanding between the Federation of UAE Chambers of Commerce and Industry and the National Chamber of Commerce of Sri Lanka.

The memorandum, signed on Tuesday by Saeed Mubarak Al-Hajeri, the Emirati assistant minister for economic and trade affairs, and Lakmal Fernando, vice president of the National Chamber of Commerce of Sri Lanka, aims to establish the UAE-Sri Lanka Joint Business Council.

Khaled Nasser Al-Ameri, the UAE’s ambassador to Sri Lanka, attended the meetings along with senior Emirati officials.


South Sudan opposition says under fresh govt military attack

South Sudan opposition says under fresh govt military attack
Updated 22 April 2025
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South Sudan opposition says under fresh govt military attack

South Sudan opposition says under fresh govt military attack
  • “The South Sudan People’s Defense Forces has attacked Panyume cantonment site,” Gabriel said
  • “Clashes are still ongoing and details will follow later“

JUBA: South Sudan’s opposition accused government forces of attacking one of its military positions in Central Equatoria State on Tuesday as their fragile power-sharing agreement continues to unravel.
Central Equatoria State, which includes the capital Juba, was split into areas controlled by government and opposition forces under a 2018 power-sharing deal that ended South Sudan’s five-year civil war, in which an estimated 400,000 people died.
The agreement brought President Salva Kiir and his long-time rival, Vice President Riek Machar, together in a unity government.
But the deal has been unraveling in recent months as Kiir moves to sideline Machar, who was placed under house arrest last month.
“The SSPDF (South Sudan People’s Defense Forces) has attacked Panyume cantonment site from multiple directions this morning,” opposition party spokesman Lam Paul Gabriel said on Facebook.
“Clashes are still ongoing and details will follow later,” he added.
Facing sustained attacks on its positions, the opposition forces commander directed his troops to prepare for conflict, according to another statement by Gabriel on Tuesday.
“Lt. Gen. Peter Thok Chuol hereby directs all sectors, divisions and all units of the SPLA-IO (Sudan People’s Liberation Army in Opposition) to be vigilant and promptly defend themselves and the civilians under their control areas,” he said.