Executive Directors agreed with the thrust of the staff appraisal. They expressed serious concern that, for more than three years, Lebanon’s deep and multifaceted crisis has led to a dramatic deterioration in economic and social conditions. While acknowledging the complex political setting, Directors regretted the very limited policy action taken to address the crisis. They highlighted the risks and surging costs from further delays and urged decisive implementation of a comprehensive reform plan to resolve the crisis and bring about a sustainable recovery. Directors stressed the critical role that donor support could play in stabilizing and reviving the economy, once reforms start to be implemented. They looked forward to deeper engagement with the Fund and other key stakeholders to support the urgent reform efforts and humanitarian needs.

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