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IMF NEGOTIATIONS

ABL issues statement pledging full cooperation with IMF delegation

ABL issues statement pledging full cooperation with IMF delegation

The headquarters of the Association of Banks in Lebanon. (Credit: ANI)

BEIRUT — The Association of Banks in Lebanon stressed on Friday its “full and permanent cooperation” with the delegation from the International Monetary Fund, which is currently on an official visit to Beirut.

Here’s what we know:

    • In a statement, the ABL affirmed its “full and permanent cooperation with the IMF, so as to serve the interests of depositors, citizens and the country.” ABL also stressed the need to protect depositors’ money through a plan to preserve essential private wealth and drive growth in the country. Finally, the banks recalled that “reforms constitute an essential pillar and a priority to get the country out of the crisis.”

    • On Thursday, the IMF delegation, received by Prime Minister Najib Mikati and Parliament Speaker Nabih Berri, reported new progress in discussions with Lebanon and signaled its willingness to reach an agreement with the authorities even if “important work” remains undone. This is the IMF delegation’s third visit to Lebanon since talks began on Jan. 24 on support measures aimed at pulling Lebanon out of the economic crisis that has plunged some 80 percent of its population into poverty.

BEIRUT — The Association of Banks in Lebanon stressed on Friday its “full and permanent cooperation” with the delegation from the International Monetary Fund, which is currently on an official visit to Beirut.Here’s what we know:    • In a statement, the ABL affirmed its “full and permanent cooperation with the IMF, so as to serve the interests of depositors, citizens and...