IMF report serves as a clear accusation against Lebanon's authorities, says banking source

A banking source emphasized the importance of the International Monetary Fund's (IMF) report regarding the description of the financial gap, estimated at around $73 billion, and the fact that the funds available in the Central Bank of Lebanon and commercial banks were almost sufficient to cover all deposits. 

The source added that the financial gap accumulated when the state failed to issue bonds and resorted to borrowing from the central bank. 
 
Furthermore, it also contributed, after the announcement of the cessation of payments and through poor management, to the waste of about $22 billion of depositors' money in the Central Bank and about $15 billion of bank funds by allowing the repayment of "dollarized" loans in Lebanese lira or at an unrealistic exchange rate. 

The banking source considered the IMF report an explicit accusation against the Lebanese authorities, highlighting their primary and fundamental responsibility for the current situation.