Lebanon Daily News Brief 04/07/2022

Thursday, April 7, 2022


IMF Reaches Staff-Level Agreement with Lebanon on Debt-Relief Package
In a public statement today, Mr. Ernesto Ramirez Rigo, head of the International Monetary Fund mission concerning Lebanon’s request for a debt-relief package confirmed that, “The Lebanese authorities and the IMF team have reached a staff-level agreement on comprehensive economic policies that could be supported by a 46-month Extended Fund Arrangement (EFF) with requested access of SDR 2,173.9 million (equivalent to about US$3 billion). This agreement is subject to approval by IMF management and the Executive Board, after the timely implementation of all prior actions and confirmation of international partners’ financial support.” [Reuters]

Ambassadors of KSA, Kuwait to Return to Diplomatic Missions in Lebanon
In a publicized statement, the Kingdom of Saudi Arabia’s Ministry of Foreign Affairs stated that, “the Foreign Affairs Ministry of Saudi Arabia announces the return of the ambassador of Saudi Arabia to the brotherly Republic of Lebanon.” The Kuwaiti Ambassador to Lebanon Abdel Aal Al-Qenai, also confirmed his government’s decision to reinstate its diplomatic presence in Lebanon. [L’Orient Today]

Lebanon ‘At Gates’ of Bread Crisis
According to the Federation of Bakeries Syndicates in Lebanon, several mills around the country have stopped operating as the Central Bank of Lebanon has apparently stopped paying the necessary credits to cover the import costs for wheat shipments. The Federation also alleged that the Minister of Economy and Trade Amin Salam’s assessment of the country’s wheat inventory is not accurate, imploring him to be, “to be frank with people about the reality of the supply, especially with regard to wheat, so that bakeries are not held responsible if they stop operating.” [L’Orient Today]  According to the Minister, “We know that our national reserves are at a very difficult place, but we are very confident that the IMF agreement will help Lebanon get out of the crisis.” [CNN]



Al Monitor
Lebanese Elections Marked With High Number Of Youth Candidates
Hanan Hamdan

Hamdan writes, “In the parliamentary elections due in May, dozens of youth and women are hoping to break the cycle of political nepotism and bring new faces to the country’s parliament.” 

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Disclaimer: The views and opinions expressed in these articles are those of the author and do not necessarily reflect the position of the American Task Force on Lebanon, a non-profit, nonpartisan leadership organization of Lebanese-Americans.