Thu, 06 Aug 2020

Top Lebanese negotiator with IMF resigns

01 Jul 2020, 16:51 GMT+10

BEIRUT, June 29 (Xinhua) -- Alain Bifani, director general of the Ministry of Finance in Lebanon, announced on Monday his resignation.

Bifani said he made the decision due to the "unwillingness and lack of seriousness" by the Lebanese cabinet to implement necessary reforms to secure better negotiations with the International Monetary Fund (IMF) regarding Lebanon's debt restructuring, al-Jadeed local TV channel reported.

Bifani, who is part of the negotiating team with the IMF, said in a press conference said he has waited for too long for the opportunity of witnessing serious change but his efforts and those of his team were faced by various obstacles.

Lebanon began its negotiations with the IMF in May but talks were impeded by a row between the central bank and the government over the scale of losses in the financial system and ways of sharing these losses.

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