World Bank Vice President for Middle East and North Africa Ferid Belhaj described the economic situation in Lebanon as "very crucial." Belhaj who met Friday with Lebanons Finance Minister, Ali Hassan Khalil, to discuss the recent economic developments, said: "What matters today most is the way the Lebanese government proves to be up to the expectations and aspirations of the Lebanese people, especially on the level of reforms because they are important and essential." "Reforms should be implemented by Lebanon to be able to communicate with the donors that support the country, not to mention their importance on the economic and social level," he added. "The World Bank is one of the sides supporting Lebanon, and we are dealing positively with the country -- with a high level of exchange of viewpoints, transparency, clarity, and accuracy," Belhaj said. He further confirmed that Lebanon should do more to reach the aspired level. "The Lebanese governments reforms are very important; however, they have not reached the expected level, and this is what we said frankly to the Lebanese government.” Belhaj expressed confidence in Lebanons ability to brace the required reforms, reaffirming the World Banks support to the country. “We have reached a stage where time is very precious," he noted.