Lebanon’s innovative financial operations not sustainable – IMF

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Central Bank of Lebanon. Photo: Karan Jain

A complex financial operation used by the Central Bank of Lebanon (BdL) last year to shore up its foreign reserves succeeded in its aims, but is not a sustainable solution, International Monetary Fund directors warned on January 24.

Faced with dwindling foreign exchange reserves, the central bank launched a complicated series of trades between May and October with the Ministry of Finance and commercial banks.

"Although the BdL's recent financial operation has successfully bolstered BdL's gross

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