IMF Staff Concludes Visit to Lebanon
IMF News, February 13, 2026
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Bibliographic details
- Published: February 13, 2026
Mission overview
- Mission leader: Ernesto Ramirez Rigo.
- Location and dates: Beirut, Lebanon, from February 10 to 13, 2026.
- Press Release No.: 26/050.
- Media contact: PRESS OFFICER: Angham Al Shami; Phone: +1 202 623-7100; Email: MEDIA@IMF.org.
- Administrative note: "End-of-Mission press releases include statements of IMF staff teams that convey preliminary findings after a visit to a country. The views expressed in this statement are those of the IMF staff and do not necessarily represent the views of the IMF’s Executive Board. This mission will not result in a Board discussion."
Key findings on bank restructuring and legislation
- The draft Financial Stabilization and Depositor Recovery (FSDR) law, "recently approved by Cabinet," is viewed as a first step toward:
- rehabilitating the banking sector; and
- giving depositors gradual access to their deposits.
- Staff highlighted necessary improvements to align the draft FSDR law with international principles, including:
- ensuring that "the hierarchy of claims will be respected and no losses would be allocated to depositors before they are allocated to shareholders or junior creditors"; and
- reestablishing "a viable banking system for current and future generations."
- The bank restructuring strategy must be:
- consistent with available liquidity in the system to provide resources as bank deposits are gradually released; and
- designed so that "the contributions required by the state do not undermine efforts to restore public debt sustainability."
- Staff "welcomed efforts underway to reduce the cash economy," noting these efforts "would be greatly enhanced by the return of confidence in the banking system once the bank restructuring has been undertaken."
Bank Resolution Law (BRL) amendments
- Discussions focused on amendments to the Bank Resolution Law to:
- "cement an independent, transparent, and effective bank resolution process in line with international principles."
- IMF staff expectation: "We hope that Parliament can discuss and approve these amendments in the coming months."
Fiscal framework, debt sustainability, and revenue mobilization
- Authorities are preparing a medium-term fiscal framework intended to:
- support the bank restructuring strategy;
- underpin a sovereign debt restructuring to restore debt sustainability; and
- expand social and capital spending while rebuilding institutional capacity.
- Staff underscored:
- the importance of ensuring new expenditure commitments, "including any further increases in public sector salaries and pensions, are in line with this framework" and accompanied by revenue mobilization efforts to "safeguard macroeconomic stability."
- ongoing efforts to strengthen tax collection are welcome, but "tax policy measures will be essential to increase revenues over the medium term."
- "The approval of a more modern and effective income tax law would present an important first step in this direction."
Ongoing engagement and next steps
- "The discussions on these issues continue."
- The Fund's commitment: "The Fund is committed to supporting the Lebanese authorities in their effort to design and implement a comprehensive economic and financial reform agenda."
- The mission concluded by thanking "the authorities for their cooperation and constructive engagement."
IMF Staff Concludes Visit to Lebanon — Press Release No. 26/050, February 13, 2026.