The International Monetary Fund will advance discussions with Iraq and Lebanon as part of wider efforts to support vulnerable countries in the Middle East and North Africa, according to managing director Kristalina Georgieva. Baghdad has approached the IMF about a potential programme, and Georgieva said the fund would support Iraq with both money and policy advice, following IMF support in Egypt and Jordan. Talks with Lebanon are 'very intense' and have made significant progress towards a programme, while central bank governor Karim Souaid expects a 'breakthrough' on the bank resolution law by the end of 2026. Lebanon, heavily reliant on imports and still dealing with the effects of its 2019 economic crisis, is projected by the World Bank to see its economy contract by 6.4% in 2026.
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