Liban Governor Seeks Gap Law Solution

Lebanese Central Bank Governor, Karim Saeed, expects that an agreement close to the end of the year will be reached with the International Monetary Fund regarding a law that defines the mechanism for repaying depositors whose savings have been frozen due to the economic collapse. This law, known as the "Financial Gap Law," is a key step in Lebanon's process of securing an international loan, as it aims to enable depositors to recover billions of dollars that are stuck in the banking sector. The involved parties, including Banque du Liban, the government, and the banks, are exchanging a clear operational framework and repayment methods over a specified period, with an emphasis that the law will pave the way for an agreement with the IMF. It is seen as a crucial step toward Lebanon's economic recovery and overcoming the current financial crisis.

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