IMF Interventions following financial crises: Economic reforms and social impacts – the case of Lebanon in perspective
DOI:
https://doi.org/10.18559/rielf.2025.2.2704Keywords:
equity, justice, inequality, Foreign Aid, financial crisisAbstract
Purpose: Analysing the impact of the International Monetary Fund’s (IMF) interventions in countries facing financial crises, with a particular focus on the case of Lebanon. The study aims to identify the economic and social factors that determine the effectiveness of IMF-imposed austerity programs, while providing specific recommendations for the Lebanese context.
Design/methodology/approach: This research is based on an in-depth analysis of secondary sources, including IMF reports, academic studies, and economic data, to compare outcomes across different countries and apply these findings to Lebanon.
Findings: The results indicate that the success of IMF interventions largely depends on the coherence of economic reforms and their adaptation to national specificities. However, austerity policies often have significant negative impacts, such as worsening social inequalities and deteriorating public services. Regarding Lebanon, the study highlights that interventions are likely to fail without transparent governance, effective coordination, and measures tailored to the country’s socio-economic particularities.
Originality/value: This article stands out for its detailed analysis of IMF programs in a global framework while offering practical recommendations specific to Lebanon. The study explores the necessary balance between economic reforms, social equity, and governance to maximise the effectiveness of interventions.
JEL Classification
Equity, Justice, Inequality, and Other Normative Criteria and Measurement (D63)
Foreign Aid (F35)
Financial Crises (G01)
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