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Lebanon to resume talks with IMF, but outcome uncertain


Lebanon is to resume talks with the International Monetary Fund (IMF) as the country seeks the financial support it needs to cope with its economic and financial crisis. Lebanon’s Finance Ministry said on October 4 it had resumed interactions with the IMF in a bid to secure a recovery program that can pave the way for more international support. Since the nation’s crisis began in October 2019, its currency has lost over 90% of its value. The COVID-19 pandemic, the Beirut explosion and political instability have resulted in severe financial, economic and humanitarian problems that have left more than half the population trapped in poverty. In March 2020, Lebanon defaulted on paying back $1.2 billion (€1.03 bill …

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