IMF Executive board informed that in order to improve the public debts’ sustainability scenario, Lebanon will immediately require a “fiscal adjustment” which is “substantial” in nature. By 2017’s end, the public debt figures were above 150% of GDP.
According to a statement issued by IMF which made an overnight appearance, the executive directors showed their consent on the “thrust of a staff appraisal”, whereby urging Lebanon in February itself to secure the country’s “fiscal policy” into consolidated plan without delay, so as to stabilise debt a GDP share, followed by putting it on a “clear downward path”.
The data shows that the ratio of “debt to GDP” figures of Lebanon marks one of the global highest, while the Executive Board Statement issued from IMF, stated:
“Directors stressed that an immediate and substantial fiscal adjustment is essential to improve debt sustainability, which will require strong and sustained political commitment”.