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Lebanon receives $1.39 billion in IMF SDRs

A participant stands near a logo of IMF at the International Monetary Fund - World Bank Annual Meeting 2018 in Nusa Dua, Bali, Indonesia, October 12, 2018. REUTERS/Johannes P. Christo/File Photo FILE PHOTO: A participant stands near a logo of IMF at the International Monetary Fund World Bank Annual Meeting 2018 in Nusa Dua

BEIRUT: Lebanon has officially received $1.139 billion from the International Monetary Fund which is part of the country’s Special Drawing Rights, the Finance Ministry announced Friday.

It added that Finance Minister Youssef al-Khalil was informed by the Central Bank that the IMF has transferred the amount of $1,139,951,437,098 to its account at BDL.

The Lebanese government said it will resume negotiations with the IMF while beginning reforms demanded by donors, according to its policy program that aims to tackle one of the worst financial meltdowns in history.

The cash injection will give a moral boost to Khalil who is expected to restart talks with the fund over a rescue package.

 

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