IMF says that without reforms, Lebanon faces ballooning inflation and public debt

By ABBY SEWELL

BEIRUT (AP) — An International Monetary Fund report on Lebanon’s economic situation released Thursday warns that without reforms, the small, crisis-ridden country will continue to see triple-digit inflation. It also says the country’s public debt could reach nearly 550% of GDP by 2027. The report comes as a follow-up to a nine-day visit by IMF officials in March. Progress toward finalizing a sorely needed IMF bailout package for the struggling country has largely stalled. Since reaching a preliminary agreement with the IMF more than a year ago, Lebanese officials have made limited progress on reforms required to clinch the deal.  They include restructuring the debt and the banking system, revamping the public electricity system and improving governance.