IMF Urges International Support for Lebanon Amid Crisis
The International Monetary Fund (IMF) has called on the international community to provide urgent economic support to Lebanon as the country grapples with the severe consequences of ongoing conflicts in the region. Jihad Azour, the IMF's director for the Near East, emphasized the necessity of donations and humanitarian aid to alleviate the suffering of the Lebanese population, which has seen nearly 1.2 million people displaced due to the violence. Azour highlighted that Lebanon was already facing economic difficulties prior to the escalation of hostilities, making international support even more critical now.
The IMF has indicated that the Lebanese economy could lose approximately 9.2% of its GDP due to the current conflict, although it has refrained from issuing specific growth forecasts for 2024 and 2025 due to the unpredictable situation on the ground. Azour noted significant destruction of infrastructure and agricultural regions, which have severely impacted economic activity. He also pointed out the broader regional economic implications, revising growth forecasts down by 0.6 percentage points due to the conflicts in Gaza and Lebanon.
Paris Conference Aims to Cease Hostilities and Provide Aid
In a parallel effort, an international conference in Paris has gathered world leaders to discuss the urgent need for humanitarian aid and a ceasefire in Lebanon. French President Emmanuel Macron opened the conference by stressing the importance of supporting Lebanon during this crisis and called for peacekeeping measures along the Blue Line, the border between Lebanon and Israel. Macron announced a €100 million aid package from France to assist Lebanon.
UN Secretary-General Antonio Guterres echoed these sentiments, condemning the ongoing violence and urging respect for state sovereignty and civilian protection. Lebanese caretaker Prime Minister Najib Mikati emphasized the necessity of international support to strengthen the Lebanese army and rebuild the country's infrastructure, which has been devastated by the conflict. Mikati called for an immediate ceasefire and accountability for violations of international humanitarian law, highlighting the humanitarian crisis facing 1.4 million displaced individuals.
The conference aims to mobilize the international community to assist between 500,000 and 1 million displaced people, with the Lebanese government estimating a need for $250 million monthly to address the crisis. The discussions also focus on enhancing support for the Lebanese Armed Forces, which play a crucial role in maintaining internal stability and implementing UN Security Council Resolution 1701, which calls for the disarmament of non-state actors in southern Lebanon.
