Lebanon and the IMF have agreed on a $3bn, four-year loan, pending board approval, following years of talks between the two parties (MEES, 15 May 2020). Lebanon has been in the throes of a financial meltdown since 2019, which has been further exacerbated by the Beirut port blast and the Covid 19 pandemic.

A major caveat though is that the loan is contingent on Beirut implementing a raft of reforms which will enable it to unlock further financing and aid. Beirut has a poor track record of implementing reforms in order to unlock aid. (CONTINUED - 229 WORDS)