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Lebanon, IMF reach deal worth up to $3 billion: Statement

Lebanon has reached a staff-level agreement with the IMF worth about $3 billion, subject to approval by IMF management and the executive board, according to a statement released on Thursday.“The Lebanese authorities and the IMF team have reached a staff-level agreement on comprehensive economic policies that could be supported by a 46-month Extended Fund Arrangement (EFF) with requested access of SDR 2,173.9 million (equivalent to about US$3 billion),” the IMF said.For the latest headlines, follow our Google News channel online or via the app.The IMF said Lebanon was facing an unprecedented crisis, which led to a “dramatic economic contraction and a large increase in poverty, unemployment, and emigration.”The statement said the crisis resulted from years of unsustainable macroeconomic policies fueling fiscal and external deficits and support for “an overvalued exchange rate and an oversized financial sector.”Severe accountability and transparency problems and a lack of structural reforms also led to Lebanon's unprecedented situation.Read more: US announces $64 mln in emergency food aid for struggling Lebanon
Source: Al Arabiya
Full Article: Lebanon, IMF reach deal worth up to billion: Statement

Morocco: Stop criminal investigations against human rights defenders over social media posts

Moroccan authorities have stepped up their harassment of human rights defenders and activists in the past two months, with at least four facing criminal investigations and prosecutions over social media posts critical of the authorities, Amnesty International said today. Human rights defender Saida El Alami was arrested on 23 March and will appear before a ..
Source: Albawaba
Full Article: Morocco: Stop criminal investigations against human rights defenders over social media posts