BEIRUT — Despite the announcement of some countries and international organizations of their intent to provide financial assistance to Lebanon on the condition that reforms are implemented and a government is formed, some organizations, such as the International Monetary Fund (IMF), have gone ahead and provided unconditional aid.
Executive Director of the IMF Mahmoud Mohieldin recently travelled to Lebanon where he met with President Michel Aoun and announced that the Fund would allocate $860 million to Lebanon as part of a program to distributed $650 billion among 190 countries over the next two months.
Aoun, in turn, expressed his gratitude for the support provided by the IMF, stressing Lebanon’s determination to implement legislative reforms and adopt a fair distribution of losses following the formation of the government.
However, Aoun’s latest promise is not likely to be achieved anytime soon. Prime Minister-designate Saad al-Hariri announced the formation of a list for the new government consisting of 24 ministers.
Aoun’s response to the announcement was negative. He stated that Hariri’s formation includes names not agreed upon with the Presidency, as well as a new distribution of portfolios and denominations in a way that is not in line with previous agreements.