The initial report of financial forensic audit on BDL remains in Finance Ministry

The initial report of the financial forensic audit on Banque du Liban (BDL) is still in the possession of the Finance Ministry, awaiting further action.

The Central Bank Governor has received a copy of the report as the primary recipient and is responsible for providing responses through the Finance Ministry to Alvarez & Marshall, the auditing company engaged for this purpose.  

This process is being carried out under the contractual agreement signed with the auditing firm. While a copy of the report is expected to be delivered to the government, another will be sent to Parliament Speaker Nabih Berri.

In this phase, there is no indication that the report will be made public.

However, the Finance Ministry eagerly anticipates the final report to proceed with the necessary actions and reforms.

Failure to publish the report and address its findings could jeopardize the anticipated agreement with the International Monetary Fund (IMF).

The forensic audit and its implementation are essential requirements set by the IMF, and non-compliance would not only hinder the agreement but also impact potential investments and aid.

The question arises whether some parties might exploit the contents of the report as a means to undermine the agreement with the IMF. Once released, the full implications and consequences of the report are yet to be seen.