IMF reviews 30% of Lebanese deposits

An article indicates that the International Monetary Fund is seeking to oversee the management of the majority of Lebanese banks temporarily during the asset and loss assessments, despite Lebanon's objections to this plan. The Fund proposed appointing independent managers to protect the assets and conduct transparent audits, while Beirut has suggested a different approach involving the classification of banks and examining irregular claims that could account for up to 30% of deposits, with an effort to avoid forcing early losses onto depositors at the expense of shareholders. The disagreement over who should manage the banks' accounts and the importance of transparency in the auditing process is one of the main points of contention between the two sides.

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