2 Days
Source:
النهار
IMF Deal Near Bank Threat
Informed financial sources expect talks with the IMF mission, which is due to arrive in Beirut on Monday, to culminate in the signing of a staff-level agreement, after the Fund’s objection to the president’s challenge to Article 3 of the Banking Reform Law was defused. The priorities center on defining the state’s obligations, restructuring public debt, addressing the financial gap and recapitalizing banks, as well as establishing a mechanism to recover depositors’ funds. Financial circles, meanwhile, fear the reforms could lead to what they describe as a “financial Taif,” redistributing the powers of Banque du Liban and weakening the independence of its decision-making.
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