PM Salam reaffirms commitment to IMF program in meeting with European diplomats

Prime Minister Nawaf Salam met with ambassadors and senior diplomats from European Union member states, as well as the United Kingdom, Switzerland, Norway, Canada and Australia, to discuss Lebanon’s financial and economic reform agenda.

Salam said the government remains determined to reach an agreement with the International Monetary Fund, in line with its ministerial policy statement, stressing that an IMF-backed program is not only a goal in itself but also a key step toward restoring international confidence in Lebanon and unlocking much-needed international financing.

He noted that the government had already submitted a draft law on addressing the financial gap and restoring financial regularity to Parliament and remains open to amendments during parliamentary discussions.

“Unfortunately, the war broke out before Parliament began debating the bill. We hope discussions will begin soon, and the government will participate in parliamentary committee meetings to contribute to the debate and introduce any necessary improvements,” Salam said, expressing hope that lawmakers will also approve amendments to the banking sector restructuring law.

EU Ambassador Sandra De Waele said the meeting focused on Lebanon’s urgent need to adopt and implement two key financial reforms: a law to reform and reorganize the country’s banking sector in full compliance with international standards, and a financial regularity and deposit recovery law.

She said both pieces of legislation should align with IMF recommendations, describing them as essential for securing an IMF-supported program that would not only provide financing but also pave the way for investment and broader financial support from the European Union and other international partners.

De Waele added that the reforms are first and foremost necessary for Lebanon and its people, warning that every delay carries an economic cost, while each reform brings the country closer to recovery.

She also stressed that swift action would send a strong signal to Lebanese citizens, investors and the international community that Lebanon is committed to reform and recovery.

De Waele said judicial independence is another essential reform needed to restore confidence, adding that this message was conveyed to Salam and will continue to be raised in future meetings with Lebanese authorities and political leaders.