Skip to content

Subscriber Only

Economics

Lebanon Warned of Implosion as IMF, World Bank Plead for Reforms

‘Politicians need to stop and listen,’ says WB’s Ferid Belhaj
IMF head says government must respond to protesters’ demands

Protesters ram concrete barricades near parliament in Beirut, Lebanon, on Feb. 11. — Protesters ram concrete barricades near parliament in Beirut, Lebanon, on Feb. 11.
Photographer: Hasan Shaaban/Bloomberg

By

Farah Elbahrawy and

February 17, 2020, 9:07 AM UTCUpdated onFebruary 17, 2020, 1:10 PM UTC

Lebanon is at risk of “implosion” unless it develops a new governance model that’s less corrupt and more transparent than today’s system, according to the World Bank.

“Politicians need to stop and listen,” Ferid Belhaj, the World Bank’s most senior official for the Middle East and North Africa, said in an interview in Dubai on Sunday. “You cannot continue doing what you’ve been doing for years when you see what the reaction on the street is and when you see what the state of the economy is.”