CGD in the News

World Bank says ready to mobilize financing for Lebanon blast recovery (Reuters)

August 05, 2020

From the article:

"The Fund has not made an official statement about the disaster beyond a tweet from Managing Director Kristalina Georgieva expressing her 'deep sadness for the loss of lives, the injuries and the devastation' resulting from the explosion.

Scott Morris, a senior fellow at the Center for Global Development, said that donor support for Lebanon in the wake of the disaster would likely be strong.

'Lebanon’s macro and debt situation will add to the overall urgency for international support,' said Morris, a former U.S. Treasury international development official. 'That said, it is highly unlikely that donor responses would serve as an alternative to reaching agreement with the IMF on a bailout.'

U.S. Secretary of State Mike Pompeo on Wednesday reaffirmed a 'steadfast' but unspecific commitment to help Lebanon’s people."