Lebanon's Reforms Stalled, IMF Warns of 'Very Dangerous Situation'

The International Monetary Fund (IMF) has warned that Lebanon is in a "very dangerous situation" due to the government's failure to implement reforms it committed to a year ago. The IMF has called for Lebanon to stop borrowing from the central bank and accelerate the implementation of conditions set for a $3 billion bailout. Without rapid reforms, Lebanon will be "mired in a never-ending crisis," the IMF warned. The country's economy has been crippled by the collapse of the Lebanese currency, which has lost some 98% of its value against the US dollar since 2019, triggering triple-digit inflation, spreading poverty, and a wave of emigration.