IMF calls for changes
to the draft ‘Gap Law’

Nawaf Salam: "All discussion are positive"

The International Monetary Fund (IMF) has asked for amendments to the draft financial rescue law, calling for clearer rules on the hierarchy of claims, an essential component of the proposed legislation said Prime Minister Nawaf Salam.

“The IMF wants greater clarity on how losses would be distributed among stakeholders under the draft law. We want to deal with the IMF. We want to improve. This is a draft law,” he said. “” All the discussions are positive.”

“We want an IMF program and we want to continue our discussions until we achieve that,” Salam said, adding that international pressure is mounting. “The international pressure is real… the more we delay, the more deposits evaporates.”

The Prime Minister made those statement following his meeting with Kristalina Georgieva, the Managing Director of the IMF, on the sidelines of the World Economic Forum in Davos.