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Lebanon banking association criticizes gov't figures being presented to IMF

09-06-2020 | 13:49

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Lebanon banking association criticizes gov't figures being presented to IMF

Lebanon's banking association said on Tuesday that government figures being presented to the International Monetary Fund in talks for a reform program do not form a "valid basis" for rescuing the economy.

In a statement, the banking association said Beirut has ignored its own contributions to the rescue plan and said touching Lebanese deposits should be avoided.

The association has strongly criticized Beirut's plan, which envisions using bank capital and deposits to cover large financial sector losses.

REUTERS

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