Lebanese Republic 
Minister of Economy and Trade participated as part of the annual meetings of the World Bank Group and the International Monetary Fund
in Washington D.C from October 21st till October 26th
Minister of Economy and Trade, Amin Salam, participated in a high level meeting for the Ministers of Finance, Governors of the central banks and the heads of the regional financial institutions in the Middle East and North Africa (MENA) region and Afghanistan with the participation of Kristalina Georgieva, the Managing Director of the International Monetary Fund; and the Administration team; as part of the annual meetings of the World Bank Group and the International Monetary Fund held in Washington D.C from October 21st till October 26th. The said meeting will discuss series of pressing issues that the world is facing; on top of them, achieving sustainable development and restructuring the world financial system whereof this meeting was called upon to discuss the visions and insights of the Ministers and central banks’ Governors regarding the Fund of the Future and Reforms being sought after for the International Monetary Fund in order to keep the Fund appropriate to its goal and able to meet the evolving needs of its world members as well as to keep providing the services efficiently and effectively within its three main missions:
- Advising and counseling in the field of economic policies,
- Lending, and
- Capacities development.
According to the above mentioned Fund’ missions, Minister Amin Salam expressed, during the meeting, his vision on how Lebanon handle the situation with the International Monetary Fund and the already limited capabilities of the Lebanese Government which did not recover yet from the previous events in addition to the current pressures caused by the Israeli aggression and the pressing developments associated with the displacement of huge numbers of Lebanese citizens from regions that are being subject to Israeli attacks, fleeing into more secure regions in addition to the ongoing crisis of the Syrian refugees in Lebanon. Minister Salam also provided a detailed explanation to the meeting’ attendees on the destruction and damages caused to the agriculture and trade infrastructure in the South and the Bekaa as well as the other Lebanese regions exposed to bombings. He also highlighted the decline in the tourism sector and the increase of the risks related to this aggression in addition to its negative impacts on the food security with the threats to bomb public facilities along with the negative economic expectations, namely, the impact of this aggression on the gross domestic product, the social situation and the means of cooperation in terms of elaborating immediate relief strategies and plans as well as post-aggression rescue and development work programs.
In this regard, the views and proposals of Minister Salam were highly appreciated along with discussing ways of cooperation to establish advanced financial and development basis in addition to providing all means of financial and economic support to the interest of the Lebanese government and people, stressing on the importance of conducting the long-waited financial reforms that Lebanon has delayed to adopt; and restoring the work of the constitutional institutions.
