Passers-by in front of a bank’s smashed window in the coastal town of Tripoli, in northern Lebanon, on Jan. 22, 2020. (Photo: AFP)
Technical talks between Lebanon and the International Monetary Fund (IMF) on the draft financial restructuring and deposit recovery law, commonly known as the financial gap draft, continue at a brisk pace. A fourth round of meetings is scheduled for Tuesday, with negotiations expected to continue for another one to two months before both sides reach a compromise on the key amendments the IMF requested.The meetings, which began on May 15, bring together the IMF's resident representatives in Beirut and Washington-based IMF experts via video conference. On the Lebanese side, they include officials from the Finance Ministry, Banque du Liban (BDL), and the Banking Control Commission.According to IMF sources, BDL submitted a new set of proposals that will undergo detailed review in the coming weeks. The proposals seek to revise several key...
Technical talks between Lebanon and the International Monetary Fund (IMF) on the draft financial restructuring and deposit recovery law, commonly known as the financial gap draft, continue at a brisk pace. A fourth round of meetings is scheduled for Tuesday, with negotiations expected to continue for another one to two months before both sides reach a compromise on the key amendments the IMF requested.The meetings, which began on May 15, bring together the IMF's resident representatives in Beirut and Washington-based IMF experts via video conference. On the Lebanese side, they include officials from the Finance Ministry, Banque du Liban (BDL), and the Banking Control Commission.According to IMF sources, BDL submitted a new set of proposals that will undergo detailed review in the coming weeks. The proposals seek to revise several...
