Outgoing Lebanese cabinet agrees to central bank reforms

central-bank-of-lebanon

Lebanon’s outgoing cabinet agreed to an economic recovery plan including several measures concerning the central bank which have been blocked by influential forces, Reuters reported.

The plan included carrying out a long-delayed audit of the central bank’s foreign exchange balance by the end of July, according to a leaked document. Once that was completed, the government would cancel a large proportion of the central bank’s foreign currency liabilities to Lebanese lenders, Reuters said. 

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