Posted by: mulrickillion | December 13, 2011

Press Release: Statement by an IMF Mission to Lebanon

Press Release No. 11/432
November 23, 2011

An International Monetary Fund (IMF) mission led by Ms. Kristina Kostial visited Beirut during November 8-23, 2011 to conduct the annual discussions in the context of the Article IV consultation1. The mission met with the Prime Minister, Mr. Najib Mikati, the Minister of Finance, Mr. Mohammad Safadi, the Governor of the Banque du Liban (BdL), Mr. Riad Salameh, the Head of the Parliamentary Budget and Finance Commission, Mr. Ibrahim Kanaan, and various members of Cabinet and administration officials, as well as representatives of the private sector, civil society, and academia.

At the conclusion of the discussions, Ms. Kostial made the following remarks:

“After four years of strong growth, Lebanon’s economy has lost momentum reflecting domestic political uncertainty and regional unrest. Latest indicators are pointing to some pick-up in activity, and the economy could grow at 1-2 percent in 2011, markedly below an average of 8 percent per year during 2007-10. . . .

Press Release: Statement by an IMF Mission to Lebanon

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