The Government of Lebanon current reform agenda includes a number of proposals to expand reform efforts, as well as to introduce effective and efficient sector policies and expenditure programs. The draft program also includes key proposals to improve Lebanon's business environment. This program needs to be agreed, articulated and supported by adequate resources. The speed and strength of this process are critical for avoiding a severe deterioration in public finances and returning the Lebanese economy to a path of growth. This report sets out an overall framework starting, in Section I, with a discussion of the prevailing macro/fiscal challenges and the complexities added to it by the hostilities. Section II presents the elements of a reform program to promote recovery and sustainable growth. Section III discusses the role of donors in providing financial and technical assistance in support of the Government's program. Section IV reiterates the importance of building consensus around the reform agenda. The report is based on detailed technical analysis of economic, social and infrastructure sectors in terms of the impact of the hostilities and priorities for reform over the next several years.