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ABL: We do not absolutely oppose agreement between Lebanese state and IMF

Lebanon Economy

22-06-2022 | 12:25

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ABL: We do not absolutely oppose agreement between Lebanese state and IMF

The Association of Banks in Lebanon (ABL) said on Wednesday that it does not absolutely oppose the agreement made between the Lebanese state and the International Monetary Fund, citing it as one of the most significant ways to get out of the current crisis.

In a statement, the association stressed that any solution must balance between the hierarchy of responsibilities and the percentage of bearing losses, so that the banking sector and depositors are not held liable for all the losses caused by the public sector over the years.

The association also believed that efforts should be combined to search for solutions currently available to bridge the financial gap by preserving deposits and not writing them off.

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