Lebanon is seeking a new staff-level agreement with the IMF (International Monetary Fund) as it advances reforms aimed at unlocking a full program that would be expected to involve loans. Finance Minister Yassine Jaber said the country must first pass a financial gap law to allocate losses from the 2019 financial crash among the state, central bank, commercial banks and depositors. Lebanon signed its first staff-level agreement with the IMF in April 2022 but was slow to implement the promised changes. The current government has accelerated reforms, including a bank restructuring law welcomed by the IMF in August. The government estimated the losses at about $70 billion in 2022, though the figure is likely higher now. A staff-level agreement could be signed as soon as Monday or by the end of the year, while a full program would require approval from the IMF board.