20 July 2007
The IMF reports that the Lebanese government is "on track" in implementing its fiscal and economic reform agenda.
A fact-finding mission from the International Monetary Fund (IMF) concluded that the Lebanese government has achieved significant progress in implementing a large part of the economic and fiscal reform program it agreed to at the Paris III Conference in January 2007, in return for $7.613 billion in aid pledged by different donors. The Lebanese government is going forward with the reform agenda despite the current political problems facing the country.
Meanwhile, at a national conference on civil society participation in Lebanon’s rehabilitation and development, held in Beirut on July 3-4, participants from Lebanese and international organizations expressed their concern that political conflicts are delaying the development of a national social reform plan, which could help mitigate the negative impacts of the rapid economic reforms underway. Moreover, they underlined the need to assess the social impacts of economic and financial reforms and to modify the government’s agenda accordingly. Such an assessment, they argued, could also provide the basis for an improved national social development strategy.
The conference aimed at defining the role of national civil society organizations in the country's recovery and development, beyond immediate relief needs, and influencing the government strategy for longer-term reconstruction and reform.
"To date, 64 reform initiatives have been launched and implemented and another 41 are expected to be launched during the third quarter of 2007," the Paris III progress report said. The report added that several agreements have been reached with local intermediaries to provide support to the private sector, making $762 million in credit available to small and medium enterprises (SMEs).
Among other planned reforms, the government is supposed to privatize the cellular telephone networks in the third quarter of 2007. However, some believe the Cabinet may not be able to meet this target on time due to the controversial presidential polls expected to be held in October.
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