Mr. Gerry Rice from the IMF Communications Department commented in the IMF Press Briefing held on December 16, 2021 that Lebanon has made “considerable progress” in the identification of financial sector losses, and that work will persist in the upcoming period supported by audits from international firms. In this regard, Mr. Rice added that the IMF is currently assessing the government’s figures, and that any strategy for tackling said losses must be accompanied by the implementation of structural reforms, bolstering investment incentives, and increasing governance & transparency with the ultimate objective of supporting employment and sustainable growth.  Mr. Rice also revealed that the IMF has previously received a letter from the Lebanese government in which the latter has expressed its interest in a program supported by the IMF, and that discussions have already started to lay the foundations for such a program, yet much work lies ahead before the signing of an MOU. Mr. Rice also revealed that some technical assistance meetings have been held over the topics of revenue, tax administration and cash management. Finally, the Mr. Rice commented that the IMF team has provided its views on previous drafts of the capital control bill and that the IMF team will be visiting Lebanon in early 2022.