The United States welcomed on Wednesday the reform steps taken by the Lebanese government, describing them as important measures to restore confidence in Lebanon’s economy.

The U.S. embassy in Beirut issued a statement saying it “welcomes the reform steps being undertaken by Prime Minister Nawaf Salam’s government, including the Cabinet’s approval of the gap law, which help restore the confidence of international financial institutions, including the World Bank and the International Monetary Fund, in the Lebanese economy and support its recovery.”

The statement emphasized that these reforms are “considered important steps toward restoring confidence in the Lebanese banking system, and positive steps forward that serve Lebanon’s long-term interests, and help attract international investments.”