In response to IMF criticism, BDL and banks prepare a new round of defenses

Despite the presence of a significant Lebanese delegation — including representatives from the Finance Ministry, Banque du Liban (BDL, central bank) and other government and banking officials — no decisive progress toward signing an agreement with the International Monetary Fund (IMF) is expected at the IMF and World Bank annual meetings, scheduled in Washington from Oct. 13 to 18. An agreement of principle has therefore been reached to postpone formal discussions to the first quarter of 2026, for two main reasons: first, the banking restructuring law adopted by Parliament on July 31 requires substantial amendments to several of its articles; second, the IMF has sent dozens of additional comments to the relevant authorities, submitted to the Finance Ministry, which must be taken into account before negotiations can resume. Backstory,...