(Credit: L'Orient-Le Jour)
Despite a series of reassuring statements from the Lebanese side, the verdict is clear: the meetings held by the Lebanese delegation during the International Monetary Fund (IMF) and World Bank autumn assemblies, from Oct. 13 to 18, were anything but conclusive.On the contrary, the meetings revealed the depth of the disagreements, which revolve around several key issues, according to multiple Lebanese and foreign sources who attended part of the discussions.“The agreement Lebanon hopes to reach with the IMF borders on impossible if the central bank continues to hold its ground on the restructuring of banks and the repayment of deposits,” said one of these sources.Prioritizing the lossesFrom the outset, the IMF rejected the framework proposed by the central bank for ranking losses within the banking sector.BDL suggested wiping out $34...
Despite a series of reassuring statements from the Lebanese side, the verdict is clear: the meetings held by the Lebanese delegation during the International Monetary Fund (IMF) and World Bank autumn assemblies, from Oct. 13 to 18, were anything but conclusive.On the contrary, the meetings revealed the depth of the disagreements, which revolve around several key issues, according to multiple Lebanese and foreign sources who attended part of the discussions.“The agreement Lebanon hopes to reach with the IMF borders on impossible if the central bank continues to hold its ground on the restructuring of banks and the repayment of deposits,” said one of these sources.Prioritizing the lossesFrom the outset, the IMF rejected the framework proposed by the central bank for ranking losses within the banking sector.BDL suggested wiping out...
