Lebanon aims for IMF aid after approving crisis plan

Lebanon plans to seek International Monetary Fund aid after approving an economic rescue plan setting out vast losses in its financial system, as it aims to chart a course out of the most destabilising crisis since its 1975-90 civil war.

“If we get (IMF support), and God willing we will, it will help us to pass through this difficult economic phase, which could be three, four or five years,” said Diab, a little-known academic until he was nominated premier in January by the Iran-backed Shi’ite group Hezbollah and its political allies, including President Michel Aoun’s party.

“The road ahead will not be easy, but our determination and optimism will help us.”