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Lebanon IMF Reform Talks
Lebanon resumed talks with the International Monetary Fund on Tuesday, seeking an initial agreement this week on a four-year, $3 billion assistance program, which was conditional on financial reforms. Passing the financial gap law remains the main obstacle: it would determine how losses are distributed among the state, the Central Bank of Lebanon, commercial banks and depositors, amid disagreements over each party’s share. Authorities estimated the losses at about $70 billion in early 2022, while parliament has passed reforms on banking secrecy and restructuring the banking sector.
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