The International Monetary Fund (IMF) has picked a resident representative for Lebanon, the multilateral lender’s spokesman, Gerry Rice, said on Thursday, Reuters reports.
Rice, who did not specify who had been named for the position, added the IMF will continue its talks on an economic reform programme with the country.
The IMF reached a staff-level agreement with Lebanon for a four-year Extended Fund Facility (EFF) in April. The programme is still pending the IMF executive board’s approval, which could only come following a series of reforms.
Lebanon’s caretaker Deputy Prime Minister, Saade Chami, who has been negotiating with the IMF, hailed it as a “good move.”
“The government accepted immediately when it was asked. He will be meeting with all the officials almost on a weekly basis and to report back to Washington,” Chami told Reuters, without confirming the identity of the representative.
He said the representative, who would arrive in Lebanon this month, would also provide technical support.