Jihad Azour, a prominent Lebanese economist and politician, formerly served as Lebanon’s finance minister and is now the Director of the Middle East and Central Asia Department at the IMF. He was a leading presidential candidate in Lebanon’s opposition, facing obstruction from Hezbollah and Nabih Berri despite winning the most votes in Parliament.
In a recent interview, Azour emphasized the urgent need for the international community to address the humanitarian crisis in the Middle East amidst ongoing conflict. The IMF revised economic growth estimates for the region, predicting 2.1% growth in 2021 and 4.0% growth by 2025, though these figures exclude the impact of recent conflicts in Lebanon.
Azour highlighted the devastating effects on Lebanon and Palestine, urging for support to rebuild infrastructure and aid those affected. The IMF paused its economic forecasts for Lebanon due to uncertainty, but a UN report estimates a 9.2% GDP decrease as a result of the conflict.
Azour also discussed the indirect impacts on Egypt and Jordan, including reduced revenues and tourism. The IMF increased funding for Egypt to support economic reforms. While addressing immediate concerns, Azour emphasized the IMF’s role in post-conflict reconstruction and regional cooperation.
The call for international support to alleviate suffering and promote regional unity remains a key focus for Azour and the IMF.