(Credit: João Sousa/L'Orient Today)
BEIRUT — A team from US-based auditor Alvarez and Marsal will arrive in Lebanon on June 27 and begin a long-delayed forensic audit of the country's central bank, two Lebanese official sources told Reuters.
The forensic audit, to examine the bank's past financial transactions to boost transparency, has been a key demand of donor states that want Lebanon to enact reforms before releasing funds to help address a financial meltdown that began in 2019.
The meltdown, which has sunk the currency by more than 90 percent, fueled poverty and left a $70 billion hole in the financial system, is Lebanon's most destablizing crisis since the 1975-90 Civil War.
After a series of false starts, the forensic audit would begin in full next week, two Lebanese official sources said. A&M, the central bank and the finance ministry did not respond to requests for comment.
Lebanon first signed a contract with A&M to audit the central bank in September 2020.
BEIRUT — A team from US-based auditor Alvarez and Marsal will arrive in Lebanon on June 27 and begin a long-delayed forensic audit of the country's central bank, two Lebanese official sources told Reuters.The forensic audit, to examine the bank's past financial transactions to boost transparency, has been a key demand of donor states that want Lebanon to enact reforms before releasing funds to...