Lebanon PM will meet IMF delegation amid deeping economic struggles
February 18, 2020, 11:07 am

Lebanon PM will meet IMF delegation amid deeping economic struggles

Lebanese Prime Minister-designate Hassan Diab delivers a speech after his nomination at the presidential palace in Baabda, east of the capital Beirut. (File photo AFP)

A delegation from the International Monetary Fund is due to meet Lebanon’s prime minister Tuesday as the debt-ridden country seeks assistance to rescue its moribund economy.

Lebanon has the world’s third-highest debt to GDP ratio and has been sliding towards default in recent months, with tight capital controls and a currency devaluation already hitting purchasing power.

“Prime Minister Hassan Diab meets at 4 pm (1400 GMT) with a delegation from the International Monetary Fund,” the state NNA news agency reported.

Diab’s government won parliament’s confidence only last week and the state immediately requested the Fund’s advice on tackling the economic crisis.

Lebanon is expected to decide whether to pay $1.2 billion in Eurobonds that reach maturity on March 9 or to default on its debt.

The IMF delegation is expected to provide an assessment of the measures needed to rebuild the economy but has not been asked to provide financial assistance.

source: AFP

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BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions service, has sponsored the BuildHer CityHack 2025 Hackathon, a two-day event spearheaded by the College of Engineering and Technology at the Royal University for Women (RUW).
Aimed at secondary school students, the event brought together a distinguished group of academic professionals and technology experts to mentor and inspire young participants.
More than 100 high school students from across the Kingdom of Bahrain took part in the hackathon, which featured an intensive programme of training workshops and hands-on sessions. These activities were tailored to enhance participants’ critical thinking, collaborative problem-solving, and team-building capabilities, while also encouraging the development of practical and sustainable solutions to contemporary challenges using modern technological tools.
BENEFIT’s Chief Executive Mr. Abdulwahed AlJanahi, commented: “Our support for this educational hackathon reflects our long-term strategic vision to nurture the talents of emerging national youth and empower the next generation of accomplished female leaders in technology. By fostering creativity and innovation, we aim to contribute meaningfully to Bahrain’s comprehensive development goals and align with the aspirations outlined in the Kingdom’s Vision 2030—an ambition in which BENEFIT plays a central role.”
Professor Riyadh Yousif Hamzah, President of the Royal University for Women, commented: “This initiative reflects our commitment to advancing women in STEM fields. We're cultivating a generation of creative, solution-driven female leaders who will drive national development. Our partnership with BENEFIT exemplifies the powerful synergy between academia and private sector in supporting educational innovation.”
Hanan Abdulla Hasan, Senior Manager, PR & Communication at BENEFIT, said: “We are honoured to collaborate with RUW in supporting this remarkable technology-focused event. It highlights our commitment to social responsibility, and our ongoing efforts to enhance the digital and innovation capabilities of young Bahraini women and foster their ability to harness technological tools in the service of a smarter, more sustainable future.”
For his part, Dr. Humam ElAgha, Acting Dean of the College of Engineering and Technology at the University, said: “BuildHer CityHack 2025 embodies our hands-on approach to education. By tackling real-world problems through creative thinking and sustainable solutions, we're preparing women to thrive in the knowledge economy – a cornerstone of the University's vision.”